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2021-09-16

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New Jersey set to shed $182 million Unilever assets over Ben & Jerry's boycott

(Reuters) - A New Jersey state treasury official said on Wednesday it is set to divest $182 million

New Jersey set to shed $182 million Unilever assets over Ben & Jerry's boycott

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Ben &amp; Jerry's said selling its products there was \"inconsistent with its values.\"</p>\n<p>New Jersey's Division of Investment had said on Tuesday it made a preliminary determination that maintaining its investment in Unilever would be a breach of a state law barring it from investing in companies boycotting Israel. It gave the company 90 days to request a modification of the order.</p>\n<p>A Unilever representative said it had no comment on the state decision, but cited a letter to the state from CEO Alan Jope from August stating Unilever has \"a strong and longlasting commitment to our business in Israel,\" where it employs nearly 2,000 people.</p>\n<p>Jope noted Ben &amp; Jerry's has an independent board overseeing its social mission, and said Unilever does not support the \"Boycott Divestment Sanctions\" movement that seeks to isolate Israel over its treatment of the Palestinians. 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Ben & Jerry's said selling its products there was \"inconsistent with its values.\"\nNew Jersey's Division of Investment had said on Tuesday it made a preliminary determination that maintaining its investment in Unilever would be a breach of a state law barring it from investing in companies boycotting Israel. It gave the company 90 days to request a modification of the order.\nA Unilever representative said it had no comment on the state decision, but cited a letter to the state from CEO Alan Jope from August stating Unilever has \"a strong and longlasting commitment to our business in Israel,\" where it employs nearly 2,000 people.\nJope noted Ben & Jerry's has an independent board overseeing its social mission, and said Unilever does not support the \"Boycott Divestment Sanctions\" movement that seeks to isolate Israel over its treatment of the Palestinians. 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