MAJOR NEWS: New York Becomes Third State to Take Official Action Against Unilever’s Boycott of Israel

Ben and Jerry’s parent company stands to immediately lose $111 million in the Empire State

By Nosson Shulman: Licensed Tour Guide of VIP Israel Tours & Authentic Virtual Tours (click here to check out his free trailer videos)

New York has become the third state to take official action against Unilever (the parent company of Ben & Jerry’s) after July’s shocking announcement that, beginning in 2023, they will no longer do business with the Jewish State! Due to the Empire State’s strict anti-boycott laws, this international conglomerate stands to lose a lot of money!

The last few years have seen the rise of the radical, anti-Semitic BDS (Boycotts, Divestments, Sanctions) movement which seeks to harm (and in many cases eradicate) the Jewish State through economic isolation. Some of their tactics include pressuring companies that do business with Israel and pushing Universities (and professors) to blacklist Israeli academic institutions. They also try to coerce non-profit organizations to divest their money from investment funds that work with Israel (some officially target “only” Judea and Samaria and the Golan Heights, but the majority of them openly target the entire state). In order to combat this disgraceful movement, 35 states have passed Anti-Boycott laws prohibiting their government from doing any business with (or awarding/renewing) contracts to companies who blacklist Israel. From them, 21 states explicitly include Judea & Samaria (the West Bank) in their laws, and 12 (including New York) require their state to remove companies that engage in boycotts from state employee retirement investment funds (the latter of which experts say is far more damaging than simply ending contracts for goods and services)!

Started in 1978, Ben and Jerry’s became one of the most popular ice cream brands in the world. Its founders were known for their (often extreme) leftwing views. Though primarily a for-profit company, the company often involves itself in (non-business related) political issues. In 2000, they sold the company to the giant British conglomerate Unilever (who also own many huge companies including Dove, Lipton Tea, Hellman’s Mayonnaise and several other products) for $326 million. Unilever claims that when they bought the company, they agreed to the founder’s stipulation that Ben and Jerry’s retain a board of directors who would remain independent from its parent company. Although the original owners are supposedly not involved in company decisions, they wrote an op-ed in the New York Times saying they are “proud” of the company for taking such a “brave” stance (although the company continues to do business with China despite its actions against Hong Kong and Taiwan, while staying silent on the country’s genocide (and forced slave labor) against the Uyghur Muslims).

At $263 billion dollars, New York has the largest pension fund in the US (except for California)! Currently, the state has $111 million invested in Unilever. In addition to the immediate loss, experts say it will negatively impact the company’s stock prices. They will also be prohibited from buying Unilever products for Government institutions (as an example many states have lucrative contracts with Unilever to supply hygienic products to its prison population).

Unilever is protesting the decision, claiming that they are the victims because their hands are tied to stop this. They argue that it is unfair to hold the entire company liable for the actions of one of their subsidiaries. State Comptroller Tom DiNapoli, however, sees it differently. He said in a statement:

“After a thorough review, the New York State Common Retirement Fund will divest its equity holdings in Unilever PLC. Our review of the activities of the company, and its subsidiary Ben & Jerry’s, found they engaged in BDS activities under our pension fund’s policy.”

He added:

“We as a pension fund have significant investments in Israel and Israeli companies. It’s been a very profitable area for us to invest in. … So, any effort with a BDS action to harm the Israeli economy presents a risk to our pension fund investments. And we’re in business to make money, to secure retirement benefits for the 1.1 million New Yorkers who are part of our retirement system.”

New York is not the first state to pull the trigger. As reported here in August and September, Florida & Arizona respectively took official action against Unilever. Just last week, Florida took further action against the company by announcing the divesting of $139 million dollars its pension fund has invested in it. In addition, New Jersey gave a 90-day notice to the conglomerate that they too would be divesting $182 million if the company doesn’t reverse its illegal boycott. Other states are currently considering similar steps including Rhode Island, Illinois, Maryland, and Texas.

Authors note: For Israel, a lot more than ice cream is at stake here. Many corporations are currently facing pressure to cease doing business with the Jewish State and are closely watching to see how this is played out. Everyone can do their part to counter the BDS movement by raising awareness (including by reaching out to Unilever and the stores that carry their products). Let them know what it means to you as a customer, share your concerns with local (and national) politicians, talk to your friends and/or congregations and share this (and similar) articles that discuss the threats posed by BDS!

Nosson Shulman is a journalist and Licensed Tour Guide in Israel specializing in Biblical tours. To allow tourists to experience Israel during the Corona era, he created the new hit Israel tour video series which brings Israel to the home of viewers by simulating actual tours. To check out his free sneak preview tour videos, click here. To view sample tour itineraries or to inquire about private tour opportunities with a personalized itinerary on your next trip to Israel, click here.