Multinational giants are leaving again! Unilever (UL.US) divests ice cream business in Venezuela

The Zhitong Finance App learned that Unilever (UL.US) recently sold its ice cream business in Venezuela to Colombian automobile company Mack de Colombia CA. The deal officially took effect on July 3. The sale involved the Tio Rico ice cream brand and related offices and factories. Detailed financial details have not been disclosed.

In response to the email, Unilever said that after careful evaluation, Mack was selected as a partner based on its professional ability, corporate values and long-term plans for business development. Currently, the two sides are working closely to ensure a smooth transition and make every effort to ensure the business continuity of employees, customers and partners.

According to public information, as a Venezuelan truck brand agent, Mack de Venezuela has been acting for commercial vehicle brands such as Mack, Volvo, and Dongfeng for a long time. The reporter tried to contact the company for comment but received no response.

Currently, Venezuela's economic environment is facing multiple challenges. Since the US Trump administration tightened the exemption policy that allows foreign companies to participate in the country's oil extraction, the local economic situation has continued to deteriorate, and the high inflation rate and the imbalance in the currency market have seriously restricted the daily operations of enterprises.

Over the past ten years, the Venezuelan market has seen the withdrawal of many multinational companies, including well-known companies such as K.US (K.US), Kimberly (KMB.US), Colgate (CL.US), and Cargill Inc. Although some companies have not completely quit, they have drastically reduced the scale of their business or handed over responsibility for product distribution to local partners.

It is worth noting that personal care brands such as Dove under Unilever are still operated as agents by the company in the Chinese market, and there is currently no evidence that they have withdrawn from this field of business. Unilever stressed in a statement that its diverse product portfolio covering global and local brands will continue to serve Venezuelan consumers.

The deal reflects the difficult situation of the Venezuelan private sector in a complex economic environment, and also reflects the trend of strategic adjustments of multinational enterprises under geopolitical fluctuations and high inflationary pressure. Unilever focused on its core business by divesting non-core assets, while Mack took over across borders as a company in the automotive sector, and its subsequent business strategy and market performance deserve continued attention.