Unilever Indonesia (UNVR) to Divest Ice Cream Business for US$428m, Refocus on Core Operations

JAKARTA, investortrust.id – PT Unilever Indonesia Tbk (UNVR) has received shareholder approval to sell its ice cream business to PT The Magnum Ice Cream Indonesia for Rp 7 trillion (US$428 million), as part of a strategic plan to streamline operations and drive long-term growth.

The decision was made during the company’s Extraordinary General Meeting of Shareholders on Tuesday, January 14, 2025, which also ratified changes to the board of directors.

UNVR President Director Benjie Yap described the divestment as a pivotal move toward strengthening the company’s focus on its core business segments: home and personal care, and nutrition.

“This approval reflects Unilever’s commitment to positioning itself for sustainable long-term growth. We are deeply grateful to our independent shareholders for their support of this strategic initiative,” Yap said in a written statement.

The divestment is expected to deliver immediate benefits to shareholders, as the company plans to distribute the proceeds as cash dividends upon completion of the transaction. Yap also highlighted that the sale will bolster Unilever’s cash position, reduce reliance on external funding, and enable a sharper focus on core operations.

“Streamlining our operations and concentrating on home and personal care, as well as nutrition, will allow Unilever to enhance efficiency, foster innovation, and strengthen our market position. This approach ensures better resource allocation and improved financial performance,” Yap explained.

The EGMS also approved the appointment of new directors, including Alejandro Meinardo Jr Santos Concha, Vandana Suri, and Neeraj Lal. Yap expressed gratitude to outgoing directors Hernie Raharja, Ainul Yaqin, and Vivek Agarwal for their contributions.

“Their leadership and dedication have been instrumental in advancing Unilever Indonesia’s strategy and action plans. We thank them for their remarkable service,” he said.

Yap reaffirmed that the strategic refocus will drive impactful innovation and strengthen Unilever Indonesia’s ability to navigate future challenges.

“The decisions made today are crucial to ensuring Unilever Indonesia remains resilient and well-positioned to seize opportunities in the evolving market landscape,” Yap concluded.

The divestment marks a significant step in Unilever Indonesia’s transformation, aligning with its vision for sustainable growth while rewarding shareholders and optimizing its business portfolio.