Unilever will spin off the $8 billion ice cream business

British fast-moving consumer goods giant said today (March 19) that it will spin off the ice cream business.

Some of the top selling global ice cream brands including Wall’s, Magnum and Ben & Jerry’s.

‘Under the Growth Action Plan we have committed to do fewer things, better, and with greater impact,” Hein Schumacher, CEO of Unilever (market capitalisation $122 billion) said in a press statement.

The proposed changes are expected to impact around 7,500 predominantly office-based roles globally, with total restructuring costs now anticipated to be around 1.2% of Group turnover for the next three years, it further added.