Unilever will spin off the $8 billion ice cream business

British fast-moving consumer goods giant said today (March 19) that it will spin off the ice cream business.

All the ice cream brands of the company had a combined revenue of

€7.9 billion ($8.6 billion). Some of the top selling global ice cream brands including Wall’s, Magnum and Ben & Jerry’s.

“Under the Growth Action Plan we have committed to do fewer things, better, and with greater impact," Hein Schumacher, CEO of Unilever (market capitalisation $122 billion) said in a press statement.

The proposed changes are expected to impact around 7,500 predominantly office-based roles globally, with total restructuring costs now anticipated to be around 1.2% of Group turnover for the next three years, it further added.