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Ben & Jerry's - Lesson's Learned
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Ben & Jerry's - Lesson's Learned
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About this listen
n 1999, Ben & Jerry’s reported sales of $237 million, up 13.3% from the year before, but net income was only $3.4 million after an $8.6 million restructuring charge. In this short episode, we look at the financials and the specifics behind why the company’s price rose so high in 2000.
We cover the bids in the company’s SEC filings. Ben Cohen’s investor group offered $32 a share in February 2000, and a joint proposal from Unilever, Meadowbrook, and Cohen came in at $38 in March, which is the price the deal closed at. We also cover the $11.4 million termination fee in the merger agreement, and the lessons founders can take for their own exits.
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