Unilever’s love affair with ice cream melts

by Nick Ranger , Managing Partner, Consultancy

联合利华 has announced it is preparing to spin off its ￡13 billion ice cream division, cutting ties with household names like Ben & Jerry's , Magnum Ice cream , and Cornetto. It’s a major pivot, so what will the new business need to get right?

Breaking up is the easy part. The real challenge lies ahead.

The new standalone ice cream business will need to define a bold identity, compete aggressively on price against private label brands, and adapt to the rise of health-conscious consumers demanding lower-calorie, high-protein, and plant-based options. And it will have to do this while building a unified culture that can hold together post-split.

The culture and market challenges post-split

Financial independence alone won’t determine the success of the ice cream business—it will also need to build a strong, unified culture and project a leading position into the market.

If positioned correctly, this could be an opportunity to build a bold, focused, high-performance company that redefines the premium indulgence category. So leadership face critical decisions that will define the success of the new business. They must build a business that is stronger, more agile, and more valuable than it was under Unilever.

Portfolio strategy must be ruthless: To win they need to double down on the categories where they can lead and exit the ones they can’t.

Innovate with urgency: The rise of health-conscious consumers and shifting dietary habits mean that indulgence alone won’t drive growth. A clear innovation pipeline in lower-calorie, high-protein, plant-based, and functional ice creams will be essential to compete with challengers like Halo Top Creamery and Oppo Brothers Ice Cream | B Corp? .

Own the culture shift: Employees will be looking for leadership, clarity, and inspiration in the transition. A new culture must be built—fast—to create a business that feels like an exciting, forward-focused company, not a division left to fend for itself.

Master the retail power dynamic: Bargaining power could shrink without Unilever’s scale, while supermarkets continue to push their own lower-cost ice cream alternatives, cutting into market share for big brands. So, defining a strategy and finding new routes to market for its brand portfolio will be essential.

Build investor confidence with a compelling vision: Whether the company lists in London, New York, or Amsterdam, its valuation will be shaped by its narrative as much as its financials. Markets don’t reward spin-offs that look like legacy businesses—they reward companies a vision for growth.

The challenge now is more than separating the business—it’s building a future-focused company that can thrive on its own. How this new business positions itself in the next 12 months will determine whether it becomes a category leader or just another commodity player fighting for shelf space.