Ben & Jerry’s co-founders Ben Cohen and Jerry Greenfield are exploring a deal with a KKR & Co. executive to separate the ice cream brand from its current owner, according to a report by the Wall Street Journal on Monday, October 26, 2026. The discussions involve Pete Stavros, the global co-head of private equity at KKR, and would involve carving out the business from Magnum, a spin-off of Unilever.
The proposed plan would structure the new entity under an employee stock-ownership plan. According to the Wall Street Journal, which cited Stavros and Cohen, this structure is intended to distribute stock to rank-and-file employees. The report noted that this arrangement would also provide tax benefits to the company.
Unilever previously spun off its ice cream business into a separate entity called Magnum. As of Monday, October 26, 2026, representatives for Magnum, KKR, and Ben & Jerry’s had not responded to requests for comment regarding the status of these discussions.
For the broader market, this move would represent a change for a major consumer brand currently under the umbrella of Magnum, a company listed on the Euronext exchange. The transition would mark a departure from traditional corporate ownership by a multinational parent company in favor of a private equity-backed employee ownership model. If successful, the deal would also secure specific tax benefits for the ice cream brand.
The effects could influence how other subsidiaries within large conglomerates like Unilever or Magnum approach independence, particularly those with founder involvement. The use of an employee stock-ownership plan (ESOP) in a carve-out could serve as a model for other private equity firms, like KKR, when negotiating with brand founders. As of October 26, 2026, no formal agreement has been signed, and a specific date for a transfer of ownership has not been reported.