A ban on state investments in Ben & Jerry’s will continue, but the ice-cream brand’s former parent company, Unilever, is no longer on the prohibited list.
State Board of Administration Executive Director Chris Spencer told Gov. Ron DeSantis and the state Cabinet on Tuesday that Unilever has been removed from Florida’s list of “Scrutinized Companies that Boycott Israel,” which prohibits state investments and contracts with the companies.
Meanwhile, Magnum Ice Cream Co., which now includes Ben & Jerry’s, has been added. “Quick note, for those that didn’t pay (attention) or didn’t notice last week, on Dec. 8, Unilever completed their spin-off of Magnum Ice Cream Co., which now includes Ben & Jerry’s,” said Spencer, whose agency manages the massive state pension fund and other investments.
“Ben & Jerry’s was the offending entity as part of the Unilever overall consolidated entity that was in violation of the statute. As a result of that, we have removed Unilever and all of their affiliated entities, which is 13 different legal entities, from the scrutinized list, and added Magnum Ice Cream to the scrutinized list.”
In 2021, DeSantis and other state officials took aim at Unilever based on a decision by Ben & Jerry’s to stop selling its products in the West Bank and Gaza. Ben & Jerry’s said its decision was consistent with its values and “concerns shared with us by our fans and trusted partners.”
At the time, the state had about $139 million in holdings in Unilever and its subsidiaries.
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This article appears in Dec. 18 – 24, 2025.