Another blow to Unilever following the restriction of the distribution of Ben & Jerrys in Israel
Surprising reinforcement for Ben & Jerrys in Israel, on the eve of the discussion in the Constitution Committee: The State of Colorado has announced that it will take action against Unilever, the owner of the Ben & Jerrys brand, due to the company's boycott of distributing ice cream in parts of Israel.
Will attract tens of millions of dollars invested in the company
I have Seville
22/03/2022
Tuesday, 22 March 2022, 11:50 Updated: 16:52
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Tomorrow (Wednesday), the Knesset's Constitution Committee will convene for a special recess debate to vote on the approval of the regulations of the boycott law in Israel, which will allow the imposition of sanctions on Unilever in Israel as well.
The state of Colorado joins a long line of states in the United States that are enforcing the boycott law against Unilever Global following its demand from
Avi Singer, CEO and owner of Ben & Jerrys Israel,
not to sell ice cream in parts of Jerusalem and throughout Judea and Samaria. 33 states in the U.S.
Meanwhile, it has been learned that the Colorado State Pension Fund will attract $ 42 million worth of Unilever stock investments. The blow is less in amount and more in principle, due to fears that more institutional investors will follow the decision.
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Ben & Jerry's Ice Cream (Photo: Reuven Castro)
Withdrawals of investments and pension funds have led to a decline in the value of the stock
From July 2021 the states of New York, New Jersey, Florida, Illinois, Texas, Arizona and more, have enforced boycott laws in their state against Unilever which have led to withdrawals of investments, holdings and pension funds worth about $ 1 billion so far, causing damage to stock value.
Ahead of the committee meeting tomorrow in the Knesset, to discuss a special recess to vote on approving the boycott law regulations in order to use them against Unilever, which violated the Israeli boycott law, Avi Singer, CEO and owner of Ben & Jerry's Israel, sent a letter to Unilever. The committee in which he asks them to approve the regulations.
In the letter, Singer wrote: "The helplessness in the face of a company that is taking boycott measures, harms Israel's deterrent power and will lead not only fatal damage to Ben & Jerrys Israel, but also to many other businesses in the future. I address you on my behalf and on behalf of 169 Ben & C "Reese Israel, which is located in the periphery, and in the name of hundreds of other families who make a living from the factory, and may be harmed upon termination of the contract.
Avi Singer, CEO and owner of Ben & Jerrys Israel (Photo: Arik Sultan)
"The demand is contrary to Israeli and American law"
In the background, 3 weeks ago, Ben & Jerrys Israel filed a lawsuit in the United States against Unilever Global: "Your demand that Avi Singer not sell in parts of Jerusalem and Judea and Samaria is contrary to Israeli and American law.
" Global as a requirement as illegal and thus allow Singer to continue to manufacture and distribute Ben & Jerrys products throughout the State of Israel.
Singer said following the state of Colorado's decision: "I am excited about the worldwide backing and the addition of the state of Colorado to the list of states that impose immediate and painful sanctions against Unilever, which is fully responsible for the boycott.
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