British consumer goods giant Unilever is reportedly considering listing its ice cream business on New York Stock Exchange (NYSE). The news was confirmed to Bloomberg News by a source familiar with the company’s plans.
Last March, Unilever announced the intention to spin off its ice cream division as part of broader restructuring plans. It said the move would result in a “simpler, more focused company” while there is a belief the ice cream business would perform better as a standalone entity. Unilever added that it aims to complete the process by the end of 2025.
Bloomberg News’ source said that Unilever sees the NYSE as the best place for listing the ice cream business, considering the strong presence of brands like Ben & Jerry’s and Breyers in the United States. However, the company is also exploring other options, like stock exchanges in London and Amsterdam.
Alternatively, Unilever could opt to list the ice cream unit on multiple exchanges at the same time. However, this path requires various considerations including market conditions, tax implications, and accounting challenges.
Unilever previously also explored selling the ice cream division at a valuation of $18.6 billion. However, it changed course by the end of 2024 and instead chose to spin it into a separate company. The ice cream business contributes 16% to the company’s overall revenue.