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Article: Ben & Jerry's and Unilever to Join Forces in Ice Cream Deal that Maintains Social Efforts.(Brief Article)
- Article from:
- Food & Drink Weekly
- Article date:
- April 17, 2000
CopyrightCOPYRIGHT 2000 Informa Economics, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Down-home Ben & Jerry's Homemade, Inc. and multinational consumer goods firm Unilever, have agreed to a unique and ground-breaking merger in which Ben & Jerry's will join forces with Unilever to create an even more dynamic, socially positive ice cream business with a global reach.
The Ben & Jerry's board approved Unilever's offer of $43.60 per share for all of the 8.4 million outstanding shares, valuing the deal at $326 million. Ben & Jerry's had sales of $237 million in 1999 with operating income of $13.5 million before a one-time charge. Under the agreement, Ben & Jerry's will operate separately from Unilever's current U.S. ice cream business. There will be an ...