Unilever PLC
Unilever NV
12 April 2000
BEN & JERRY'S BOARD
APPROVES UNILEVER OFFER
Unilever today confirmed that the Board of Directors of Ben
and Jerry's Homemade, Inc has approved Unilever's offer of
$43.60 per share for all of the 8.4 million outstanding shares
of the company on a fully diluted basis, valuing the
transaction at $326 million.
In calendar year 1999 Ben & Jerry's had sales of $237 million
some 90 per cent of which were in North America. Operating
income was $13.5 million.
The transaction will be structured as a tender offer for all
the shares of Ben & Jerry's Homemade Inc, which is expected to
commence next week. The transaction is subject to the usual
regulatory approvals.
Commented Unilever chairman, Niall FitzGerald: 'We are
delighted to welcome Ben & Jerry's into the Unilever family.
It takes us into the super premium category for the first
time. Ben & Jerry's is an incredibly strong brand name with a
unique consumer message. We are determined to nurture its
commitment to community values.'
Ben & Jerry's produces a wide variety of super premium ice
cream, ice cream novelties, low fat ice cream, low fat yogurt
and sorbet, using Vermont dairy products and high quality, all
natural ingredients. Ben & Jerry's is committed to using milk
and cream that have not been treated with the synthetic
hormone, rBGH. Ben & Jerry's products are distributed
throughout the US and in selected foreign countries in
supermarkets, grocery stores, convenience stores, franchise
Ben & Jerry's scoop shops, restaurants and other venues.
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