The UK is at a strategic crossroads regarding Unilever’s £15bn ice cream listing.
- Former investment minister calls for immediate action to retain listing in the UK.
- Unilever explores options for its ice cream division, possibly favouring the Netherlands.
- Economic benefits to the Netherlands are speculated amidst UK governmental delays.
- Unilever’s planned separation could impact leading ice cream brands by 2025.
The UK faces a strategic decision regarding Unilever’s £15 billion ice cream listing. Former Barclays chairman Gerry Grimstone has urged the government to act swiftly by appointing a dedicated investment minister to secure this listing. His remarks highlight the urgency of retaining foreign investments within the UK.
Amidst these concerns, Unilever is actively exploring potential regions for its ice cream division’s independent stock exchange listing. The company aims to become a ‘leaner and more accountable’ business, and its plans include the full separation of its ice cream division by the end of 2025. Recognised brands like Magnum, Ben & Jerry’s, Wall’s, and Cornetto could be directly impacted by this decision.
The Netherlands has emerged as a strong contender for hosting Unilever’s ice cream division. Last month, Dutch economic affairs minister Dirk Beljaarts met with Unilever’s CEO, Hein Schumacher. During their discussions, Beljaarts extended an invitation to list the ice cream business on the Euronext exchange, bolstering the Netherlands’ appeal.
Hein Schumacher has publicly suggested that the Netherlands holds a favourable position. In a television interview, he indicated that establishing a separate stock exchange listing and potentially relocating the head office to the Netherlands would be a logical step. This move, he noted, aligns with the operational base and market dynamics of Unilever’s ice cream sector, further enhancing the Netherlands’ attractiveness as a host country.
The split from Unilever aims to leverage the distinct characteristics of its ice cream brands. The company anticipates that these changes will secure a world-leading position and drive stronger performances in its ice cream sector.
A timely appointment of an investment minister may influence Unilever’s listing decision, potentially averting a major economic shift.
