Unilever Sells Venezuela Ice-cream Arm

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Unilever has sold its ice-cream business successful Venezuela to Colombian automotive institution Mack de Venezuela.

The transaction, struck for an undisclosed sum, includes nan Tio Rico marque and factory.

In a statement, Unilever said Mack de Venezuela was chosen “after a observant process considering their capabilities, values, and imagination for nan early of nan business”.

Mack de Venezuela, nan Venezuelan subsidiary of Mack de Colombia, is simply a long-standing trader for commercialized conveyance brands specified arsenic Mack and Volvo.

In a connection to Just Food, Unilever emphasised its portfolio of world and section brands will proceed to service Venezuelan consumers.

The institution said: “In accordance pinch our attraction connected portfolio optimisation and worth creation, nan Unilever committee wished this transaction delivers nan champion result for our shareholders arsenic good arsenic for nan further improvement of nan section business.”

Unilever added Mack de Venezuela “brings heavy knowledge of nan section marketplace and a committedness to continuity and semipermanent development”.

It said: “Mack was selected aft a observant process considering their capabilities, values, and imagination for nan early of nan business. 

“We are moving intimately pinch Mack to guarantee a soft modulation and to safeguard business continuity for employees, customers, and partners.”

Unilever is readying to spin disconnected its ice-cream business later this year pinch nan caller institution to beryllium listed successful Amsterdam, London and New York.

In 2024, nan group’s ice-cream business generated a turnover of €8.3bn ($9.7bn), up 4.5% connected a twelvemonth earlier. The demerged business will beryllium called The Magnum Ice Cream Company and based successful nan Netherlands.