Unilever ($ULVR) aims to complete the separation of its ice cream unit by the end of this year to focus more on its core business divisions. The ice cream business, which includes the well known brands like Magnum, Ben & Jerry and Vienetta is valued at over €8 billion and will be listed in Amsterdam with secondary listings in London and New York. The demerger is scheduled to complete by the end of 2025.
Unilever has been in our portfolio since forever and we did enjoy its constantly increasing dividend payments for over 25 years, yet the share price performance has been pretty dull in the last few years.
It makes sense for divesting a business with clear seasonal sales and costly logistics (takes a lot of energy to keep the goods frozen) and is at odds with the rest of Unilever's beauty, personal care, health care and nutrition businesses. Are they taking a risk with letting go of their star performer (ice-cream sales did really well recently)? But spending the sale money and operational savings (€800 million over the next three years) to improve gross margins and expand into growth territories like India and America gives shareholders some hope.
Whilst our Unilever position won't break any records soon, we think it is worth holding on to it in our balanced portfolio. And we should continue to enjoy the dividend payments for many more years to come whilst waiting for the $ULVR.L (Unilever) strategy to come into place.
What would you do?
Have a great day!
Daniela... Show More
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Wed Nov 12 2025 20:57:19 GMT+0000 (Coordinated Universal Time)
