Ben & Jerry's Co-Founder Warns Brand May be Irreparably Damaged Under Magnum Ownership

The comments from Cohen come as Magnum, which was spun off from Unilever on Monday, seeks to build and strengthen Ben & Jerry's "powerful, non-partisan values-based position in the world." A spokesperson for Magnum stated that the company wants to leverage the brand's values to drive growth and expand its market share. However, Cohen expressed concerns that Magnum's priorities would shift away from the brand's social mission, potentially alienating its loyal customer base. Ben & Jerry's was sold to Unilever in 2000 for $326 million, with the agreement allowing the brand to retain an independent board and make decisions about its social mission. Since the sale, there have been deepening clashes between the Vermont-based brand and Unilever, with the conflict now inherited by Magnum. In 2021, Ben & Jerry's refused to sell its products in areas occupied by Israel, resulting in its Israeli operations being shut down. The dispute has raised concerns among investors and analysts about the potential impact on Ben & Jerry's brand value and sales. The brand has a loyal customer base and is known for its commitment to social and environmental causes. According to a report by Euromonitor International, Ben & Jerry's generated $1.2 billion in revenue in 2022, with a market share of 4.5% in the global ice cream market. Cohen's comments have sparked a debate about the future of Ben & Jerry's under Magnum's ownership. Some analysts believe that Magnum's focus on growth and profitability could lead to a shift away from the brand's social mission, potentially damaging its reputation and customer loyalty. Others argue that Magnum's commitment to building on Ben & Jerry's values could help the brand expand its market share and drive growth. The current status of Ben & Jerry's under Magnum's ownership remains uncertain, with the company's leadership and direction yet to be determined. Magnum has stated that it will maintain the brand's independent board and allow it to continue making decisions about its social mission. However, Cohen's comments have raised concerns about the potential impact on the brand's values and customer loyalty.