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Business Times
04-05-2025
- Business
- Business Times
Ben & Jerry's cites investor Peltz's growing influence over parent company Unilever
[NEW YORK] Ice cream maker Ben & Jerry's said late on Friday (May 2) that billionaire activist investor Nelson Peltz, who is on its parent company Unilever's board, has increased his influence over the consumer goods conglomerate, including on political issues. Unilever and the unit have been locked in a bitter legal dispute since last year over allegations that the parent is muzzling it, hurting its ability to carry out its social mission. The Vermont-based frozen dessert manufacturer made the new claims in response to Unilever's attempts last week to have the case thrown out. In a court filing, Ben & Jerry's said Unilever's edits to its social media posts, a key issue in its lawsuit against the London-based company, 'mirror the political views of Mr Peltz,' who backed US President Donald Trump in his election campaign last year. His increasing influence could signal broader change at Unilever, a corporate leader in environmental, social and governance (ESG) policies that Trump opposes. The maker of Cherry Garcia and other flavors was founded by counterculture members Ben Cohen and Jerry Greenfield, though the two are no longer involved in day-to-day operations. The company claimed that Unilever has censored it on topics ranging from Trump's immigration policies to the war in Gaza. Ben & Jerry's said in the filing that Unilever threatened to eliminate its independent board and sue its members individually if it did not withdraw its proposal that the British charity Medical Aid for Palestinians receive donations from the corporate parent. Unilever said the charity was unapologetically anti-Israel and that a donation to it could threaten Unilever and Ben & Jerry's with possible sanctions, according to the filing. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The filing states that Unilever relented on its position after its assessment of Medical Aid for Palestinians was discredited through various actions, including the head of the charity, Baroness Patricia Morris, saying its position was 'unreasonable and unconscionable'. Ben & Jerry's also said Unilever tasked one of its executives with persuading the company's founders to take its side in the dispute. Unilever, Ben & Jerry's, Peltz and Medical Aid for Palestinians did not immediately return a request for comment. Unilever has been saying its brands such as Ben & Jerry's are on a global mission to do good. Unilever's ice cream business, including Ben & Jerry's, is set to operate on a standalone basis starting Jul 1. REUTERS
Al Arabiya
02-05-2025
- Business
- Al Arabiya
Ben & Jerry's cites investor Peltz's growing influence over parent company Unilever
Ice cream maker Ben & Jerry's said late on Friday that billionaire activist investor Nelson Peltz, who is on its parent company Unilever 's ULVR.L board, has increased his influence over the consumer goods conglomerate, including on political issues. Unilever and the unit have been locked in a bitter legal dispute since last year over allegations that the parent is muzzling it, hurting its ability to carry out its social mission. The Vermont-based frozen dessert manufacturer made the new claims in response to Unilever's attempts last week to have the case thrown out. In a court filing, Ben & Jerry's said Unilever's edits to its social media posts, a key issue in its lawsuit against the London-based company, 'mirror the political views of Mr. Peltz,' who backed US President Donald Trump in his election campaign last year. His increasing influence could signal broader change at Unilever, a corporate leader in environmental, social and governance policies (ESG) that Trump opposes. The maker of Cherry Garcia and other flavors was founded by counterculture members Ben Cohen and Jerry Greenfield, though the two are no longer involved in day-to-day operations. The company has claimed that Unilever has censored it on topics ranging from Trump's immigration policies to the war in Gaza. Ben & Jerry's said in the filing that Unilever threatened to eliminate its independent board and sue its members individually if it did not withdraw its proposal that the British charity Medical Aid for Palestinians receive donations from the corporate parent. Unilever said the charity was unapologetically anti-Israel and that a donation to it could threaten Unilever and Ben & Jerry's with possible sanctions, according to the filing. The filing states that Unilever relented on its position after its assessment of Medical Aid for Palestinians was discredited through various actions, including the head of the charity, Baroness Patricia Morris, saying its position was 'unreasonable and unconscionable.' Ben & Jerry's also said Unilever tasked one of its executives with persuading the company's founders to take its side in the dispute. Unilever, Ben & Jerry's, Peltz and Medical Aid for Palestinians did not immediately return a request for comment. Unilever has been saying its brands such as Ben & Jerry's are on a global mission to do good. Unilever's ice cream business, including Ben & Jerry's, is set to operate on a standalone basis starting July 1. The case is Ben & Jerry's Homemade Inc v Unilever et al, US District Court, Southern District of New York, No. 24-08641.
Yahoo
02-05-2025
- Business
- Yahoo
Ben & Jerry's cites investor Peltz's growing influence over parent company Unilever
By Jessica DiNapoli NEW YORK (Reuters) -Ice cream maker Ben & Jerry's said late on Friday that billionaire activist investor Nelson Peltz, who is on its parent company Unilever's board, has increased his influence over the consumer goods conglomerate, including on political issues. Unilever and the unit have been locked in a bitter legal dispute since last year over allegations that the parent is muzzling it, hurting its ability to carry out its social mission. The Vermont-based frozen dessert manufacturer made the new claims in response to Unilever's attempts last week to have the case thrown out. In a court filing, Ben & Jerry's said Unilever's edits to its social media posts, a key issue in its lawsuit against the London-based company, "mirror the political views of Mr. Peltz," who backed U.S. President Donald Trump in his election campaign last year. His increasing influence could signal broader change at Unilever, a corporate leader in environmental, social and governance policies (ESG) that Trump opposes. The maker of Cherry Garcia and other flavors was founded by counterculture members Ben Cohen and Jerry Greenfield, though the two are no longer involved in day-to-day operations. The company has claimed that Unilever has censored it on topics ranging from Trump's immigration policies to the war in Gaza. Ben & Jerry's said in the filing that Unilever threatened to eliminate its independent board and sue its members individually if it did not withdraw its proposal that the British charity Medical Aid for Palestinians receive donations from the corporate parent. Unilever said the charity was unapologetically anti-Israel and that a donation to it could threaten Unilever and Ben & Jerry's with possible sanctions, according to the filing. The filing states that Unilever relented on its position after its assessment of Medical Aid for Palestinians was discredited through various actions, including the head of the charity, Baroness Patricia Morris, saying its position was "unreasonable and unconscionable." Ben & Jerry's also said Unilever tasked one of its executives with persuading the company's founders to take its side in the dispute. Unilever, Ben & Jerry's, Peltz and Medical Aid for Palestinians did not immediately return a request for comment. Unilever has been saying its brands such as Ben & Jerry's are on a global mission to do good. Unilever's ice cream business, including Ben & Jerry's, is set to operate on a standalone basis starting July 1. The case is Ben & Jerry's Homemade Inc v Unilever et al, U.S. District Court, Southern District of New York, No. 24-08641.
Reuters
02-05-2025
- Business
- Reuters
Ben & Jerry's cites investor Peltz's growing influence over parent company Unilever
NEW YORK, May 2 (Reuters) - Ice cream maker Ben & Jerry's said late on Friday that billionaire activist investor Nelson Peltz, who is on its parent company Unilever's (ULVR.L), opens new tab board, has increased his influence over the consumer goods conglomerate, including on political issues. Unilever and the unit have been locked in a bitter legal dispute since last year over allegations that the parent is muzzling it, hurting its ability to carry out its social mission. The Vermont-based frozen dessert manufacturer made the new claims in response to Unilever's attempts last week to have the case thrown out. In a court filing, Ben & Jerry's said Unilever's edits to its social media posts, a key issue in its lawsuit against the London-based company, "mirror the political views of Mr. Peltz," who backed U.S. President Donald Trump in his election campaign last year. His increasing influence could signal broader change at Unilever, a corporate leader in environmental, social and governance policies (ESG) that Trump opposes. The maker of Cherry Garcia and other flavors was founded by counterculture members Ben Cohen and Jerry Greenfield, though the two are no longer involved in day-to-day operations. The company has claimed that Unilever has censored it on topics ranging from Trump's immigration policies to the war in Gaza. Ben & Jerry's said in the filing that Unilever threatened to eliminate its independent board and sue its members individually if it did not withdraw its proposal that the British charity Medical Aid for Palestinians receive donations from the corporate parent. Unilever said the charity was unapologetically anti-Israel and that a donation to it could threaten Unilever and Ben & Jerry's with possible sanctions, according to the filing. The filing states that Unilever relented on its position after its assessment of Medical Aid for Palestinians was discredited through various actions, including the head of the charity, Baroness Patricia Morris, saying its position was "unreasonable and unconscionable." Ben & Jerry's also said Unilever tasked one of its executives with persuading the company's founders to take its side in the dispute. Unilever, Ben & Jerry's, Peltz and Medical Aid for Palestinians did not immediately return a request for comment. Unilever has been saying its brands such as Ben & Jerry's are on a global mission to do good. Unilever's ice cream business, including Ben & Jerry's, is set to operate on a standalone basis starting July 1. The case is Ben & Jerry's Homemade Inc v Unilever et al, U.S. District Court, Southern District of New York, No. 24-08641.
Boston Globe
24-04-2025
- Business
- Boston Globe
Ben & Jerry's ice cream is not for sale, ays Unilever CEO
Speculation about the future of Ben & Jerry's has arisen after founders Ben Cohen and Jerry Greenfield expressed interest in buying back their namesake ice cream label, after years of tension between the brand and Unilever, according to a Bloomberg News report. Advertisement Founded in 1978, Ben & Jerry's became popular with offbeat flavors like Cherry Garcia and Chubby Hubby and associated itself with progressive causes. When Unilever bought the company in 2000, an agreement established an independent board at Ben & Jerry's to protect its social values. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up However, the two have increasingly clashed over how Ben & Jerry's communicates that social mission. In 2022, Ben & Jerry's sued Unilever for blocking its attempts to stop selling ice cream in the occupied West Bank. Earlier this week, Reuters reported that Unilever was threatening to halt funding to the Ben & Jerry's Foundation, a US nonprofit that makes donations to social justice organizations. Unilever pays the foundation about $5 million annually, according to Fernandez, and it wants to know where money is being spent. Advertisement 'We have not made any threat,' he said, but added that audits form part of proper governance. 'It is our responsibility to ensure that these funds are used properly,' he said. 'It has to be allocated to areas or institutions that are absolutely in line with the ones that are part of the acquisition agreement.' Unilever on Thursday reported that sales rose more than expected in the first quarter, mostly driven by higher prices as commodity costs surge.
