Heaptalk, Jakarta — Unilever Indonesia has officially divested its ice cream business to PT The Magnum Ice Cream Indonesia, amounting to Rp7 trillion, approximately US$429.14 million (US$1 equals Rp16,311). This decision stems from the extraordinary general meeting of shareholders and the independent general meeting of shareholders (01/14).
In the short term, this step is anticipated to directly benefit shareholders as the company plans to distribute the proceeds from the sale as cash dividends once the transaction is completed. This divestment is also expected to strengthen the cash position and reduce dependence on external funding.
According to Benjie Yap, President Director of Unilever Indonesia, this strategic decision reflects the company’s commitment to strengthening its position and fostering sustainable long-term growth. Following this measure, the company will focus on its core businesses: Home and Personal Care (comprising Home Care, Beauty and Well-Being, and Personal Care) and Nutrition.
Appointing a new board of directors
“Unilever Indonesia intends to streamline operations, enhance efficiency, and drive innovation by refocusing on our core business areas. This strategic approach allows for better resource allocation, strengthens our market position, and ultimately improves financial performance,” Benjie said in a written statement (01/14).
Amaryllis Esti Wijono, General Manager of Ice Cream Indonesia, expressed that this divestiture opens an exciting new chapter for the ice cream business in Indonesia, enabling a sharper focus on the industry. She voiced, “With enhanced agility and a more dedicated approach, we are well-positioned to capitalize on significant growth opportunities in this dynamic sector. We remain committed to driving innovation and delivering exceptional products to meet our ever-evolving consumer needs.”
In addition to the divestment, the company also announced updates to the board of directors. The newly appointed directors are Alejandro Meinardo Jr Santos Concha, Vandana Suri, and Neeraj Lal, who are replacing Hernie Raharja, Ainul Yaqin, and Vivek Agarwal. Hernie Raharja has decided to pursue opportunities outside the Company.
Vivek Agarwal and Ainul Yaqin will join Unilever’s global management team in new roles. Vivek Agarwal will oversee Southeast Asia (SEA) Portfolio Development, while Ainul Yaqin will lead Personal Care Digital Marketing Transformation and Capability, explicitly focusing on the Asian market.
