Unilever scoops up Ben & Jerry's, gains Slim-Fast
WebPosted Wed Apr 12 17:10:50 2000
SOUTH BURLINGTON, VT. - Unilever PLC, the world's largest ice-cream maker,
has gobbled up Ben & Jerry's and Slim-Fast in two deals announced Wednesday.
Ben & Jerry's Homemade, whose former hippie owners favour tie-dyed
T-shirts, has sold out to the corporates suits of the multinational
Unilever for $326 million US.
Unilever is a conglomerate that produces diverse products from Popsicles to
Dove soap. It also owns Good Humour and Breyers ice cream. The deal now
gives Ben & Jerry's the international distribution it had been seeking.
Ben and Jerry's has built a cult following with its quirky ice cream
flavours ("Chunky Monkey" and "Cherry Garcia"), blended with a commitment
to social principles. It gives 7.5 per cent of pre-tax profits to charity.
The two owners will continue to be involved in the firm, although it's not
clear what their roles are, or if Ben & Jerry's social mission will change.
The deal calls for Unilever to pay $43.60 per share for the company. Stock
in Ben & Jerry's shot up Wednesday by $8.12 US, closing at $43.06 US on
Nasdaq, blasting through a previous 52-week high of $35.63 US.
Ben & Jerry's had sales of $237 million in 1999, while Unilever has sales
of more than $45 billion.
On the opposite end of Ben & Jerry's "Chubby Hubby," Unilever bulked up by
also buying SlimFast Foods Co. for $2.3 billion US cash.
Slim-Fast makes diet products and nutritional supplements. It's a
privately-owned company based in Florida.
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janet paterson
53 now / 41 dx / 37 onset
a new voice: http://www.geocities.com/janet313/
613 256 8340 PO Box 171 Almonte Ontario Canada K0A 1A0
