Unilever has divested its ice-cream business in Venezuela to Mack de Venezuela, a Colombian automotive company. This strategic transaction, finalized for an undisclosed amount, encompasses the well-known Tio Rico brand and its associated factory.
In a recent statement, Unilever highlighted that Mack de Venezuela was selected after a thorough evaluation of their capabilities, values, and vision for the future of the business. As the Venezuelan subsidiary of Mack de Colombia, Mack de Venezuela has a long-standing reputation as a dealer for commercial vehicle brands, including Mack and Volvo.
Furthermore, Unilever reassured stakeholders in the food and beverage industry that its portfolio, consisting of both global and local brands, will continue to meet the needs of Venezuelan consumers. The company stated, “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 de Venezuela’s expertise in the local market coupled with its commitment to ongoing development further influenced Unilever’s decision. The company noted, “Mack was selected after a careful process considering their capabilities, values, and vision for the future of the business.” They are actively collaborating with Mack to ensure a seamless transition, safeguarding business continuity for employees, customers, and partners.
Looking ahead, Unilever plans to spin off its ice-cream business later this year. The newly established entity will be listed in Amsterdam, London, and New York. In 2024, the ice-cream business generated an impressive turnover of €8.3 billion ($9.7 billion), reflecting a 4.5% increase from the previous year. This demerged entity will be known as The Magnum Ice Cream Company and will operate from the Netherlands.
In summary, the food and drink business landscape continues to evolve, with companies like Unilever adapting to market changes and consumer preferences. This strategic move aligns with current food and drink consumer trends and positions Unilever for future growth in the competitive landscape of the food and beverage industry.
