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Unilever to split off its ice cream unit including Ben & Jerry's; shares pop 5%

·1 min

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Consumer goods giant Unilever announced plans to separate its ice cream unit, including Ben & Jerry’s and Magnum, as part of a restructuring initiative. The company aims to become a simpler and more focused organization with four distinct business divisions. The restructuring, expected to be completed by the end of 2025, will impact around 7,500 office-based roles globally. Unilever anticipates total restructuring costs to be approximately 1.2% of Group turnover over the next three years. The move is driven by the company’s goal to improve performance and achieve cost savings of around 800 million euros ($868.3 million). CEO Hein Schumacher has been leading the wider overhaul of Unilever. The stock market reacted positively to the announcement, with shares of Unilever rising over 5%.