Unilever in talks with private equity to find buyer for ice cream business

Unilever is courting private equity groups to see if they would be willing to bid for its ice cream business.

The consumer goods giant is working with bankers from Morgan Stanley and JP Morgan to gauge interest, according to the Financial Times. The reports will fuel concerns that the London stock market could miss out on what could be a blockbuster listing worth up to £15 billion.

Chief executive Hein Schumacher plans to split the ice cream division around brands such as Wall’s, Magnum and Ben & Jerry’s.

This week it hinted at a possible stock market listing by the end of 2025 and said it was “open to all options” as to where it would list.

But he did not rule out other options – such as selling to a private buyer – and said he wanted to “maximize returns for shareholders”.

It would be a blow to London if the split company fell into the clutches of private equity.

Speculation about its future came as Ben & Jerry’s said it would stick to its woke program.

He has been criticized for his political views, including demanding a ceasefire in Gaza and accusing President Biden of “fanning the flames of war” in Ukraine.

Unilever shares rose 0.9 percent.