Magnum investor group knocks ice cream maker over Ben & Jerry’s handling, letter shows
Key takeaways
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- The pressure underscores how Ben & Jerry’s, which has a history of vocal social activism, poses a challenge for The Magnum Ice Cream Company, which spun off from consumer goods giant Unilever and listed in December.
- Ben & Jerry’s founders and board repeatedly clashed with former parent Unilever over political and ethical stances.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize. A group of Magnum investors has criticised the ice cream maker over its handling of tensions around its Ben & Jerry’s brand’s social activism and a lack of transparency over its finances, a letter from shareholders seen by Reuters showed.
The investors, who hold at least $1.3 million of Magnum stock but manage billions of dollars in assets, called on the firm to explain how it would maintain Ben & Jerry’s board independence and to provide standalone sales and profit data for the brand.
The pressure underscores how Ben & Jerry’s, which has a history of vocal social activism, poses a challenge for The Magnum Ice Cream Company, which spun off from consumer goods giant Unilever and listed in December.