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Ben & Jerry's Says Unilever Contradicts Its Social Standing On Issues Of Concern: WSJ

·1 min read
  • Ice cream company Ben & Jerry’s board members have appealed to prevent its parent company, Unilever PLC (NYSE: UL), from selling the assets to a local licensee in Israel, the Wall Street Journal reported.

  • Ben & Jerry’s feels the asset transfer could lead to the brand’s products being used to oppose social issues it supports.

  • Unilever announced the sale in June 2022 after coming under pressure over Ben & Jerry’s decision not to sell its products in Jewish settlements in the West Bank and parts of East Jerusalem.

  • RelatedBen & Jerry's Sues Parent Unilever On Israeli business Sale: CNBC

  • When Unilever acquired the ice cream brand two decades ago, its independent board formed a unique corporate governance arrangement to protect the brand’s image.

  • The report noted Ben & Jerry’s board needed confirmation from the court that Unilever wouldn’t be able to change its social stances without its approval.

  • Also ReadBen & Jerry's Disagrees With Unilever Divesting Brand To Israel Local Licensee: FT

  • Meanwhile, Unilever said the sale had already closed and that the members of Ben & Jerry’s board had demarcated rights that didn’t give them the power to sue the brand’s parent company.

  • Price Action: UL shares are trading lower by 0.50% at $48.18 in premarket on the last check Tuesday.

  • Photo Via Wikimedia Commons

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