Venezuela: Unilever finds buyer for ice cream business

Unilever, the multinational consumer goods giant, has announced it has announced a buyer for its ice cream business in Venezuela in the shape of Mack de Venezuela, a Colombian automotive company.

The transaction includes both the Tio Rico brand and its associated factory.

Commenting on the move, a Unilever spokesperson said: “In accordance with our focus on portfolio optimisation and value creation, the Unilever board determined this transaction delivers the best outcome for our shareholders as well as for the further development of the local business”.

“Mack was selected after a careful process considering their capabilities, values, and vision for the future of the business”, they added. “We are working closely with Mack to ensure a smooth transition and to safeguard business continuity for employees, customers, and partners”.

The deal comes after Unilever announced plans last year to spin off its ice cream division, which posted a turnover of €8.3 billion ($9.7 billion) in 2024. More recently, the company also closed an ice cream factory in Bulgaria.

Source: Just Food