Wednesday, January 19, 2000
The University Daily Kansan
Section A·Page 7
Ben & Jerry's fans fight possible takeover bids
The Associated Press
- MONTPELIER, Vt. — There are plenty of people sweet on Ben & Jerry's because of its gourmet ice cream. It turns out the company's social activism also has a powerful following.
Last month's unsolicited bid to take over the Vermont company has generated several grassroots campaigns to block it, reflecting the near-cult status that has grown up around the company.
"People who love our ice cream love the fact that there really is a Ben and there really is a Jerry," said Michael Garrett, owner of four Ben & Jerry's franchises in Connecticut and New York. "They don't want to see their heroes selling out."
Garrett wouldn't lose his franchises the company was sold, but he said he's worried about losing the identity of the business. He's got a message for any suitors: "If by some miracle you are able to take us over, we're not changing. You have to change."
Ben & Jerry's Homemade Inc., known for serving flavors like Rainforest Crunch and embracing the liberal causes of the former hippies who founded the business, revealed last month that it was being courted.
It has declined to say who is involved, though Wall Street analysts have said the most likely bidders are three of the company's main competitors — Dreyer's Grand Ice Cream, Good Humor-Breyers and Ice Cream Partners USA, a new partnership of Haagen-Dazs and Nestle.
The common thread of those fighting to preserve Ben & Jerry's is that its board consider more than just the financial impact on its shareholders when it evaluates a takeover bid. They want the company also to consider how a sale would
affect its corporate culture, its customers and the communities where it operates.
"Ben & Jerry's was a groundbreaker in raising consciousness that capital can, in fact, be caring," said Judy Wicks, owner of the White Dog Cafe in Philadelphia and a proponent of socially responsible business practices.
The business founded in 1978 by New York buddies Ben Cohen and Jerry Greenfield donates 7.5 percent of its pretax profits to charity, and it maintains a so-called double bottom line dedicated to earning a profit and promoting social good. That includes buying milk from small family farms and its nuts from sustainable farms in South American rainforests.
"It was Ben & Jerry's, Ben specifically that came up with the concept of the double bottom line." Wicks said.
"They were the teachers and they have been teachers and continue to be teachers in influencing hundreds of thousands of businesses throughout the world that business can serve the common good and not just the financial interests of businesses and stockholders," she said.
That, and funky ice cream flavors such as Cherry Garcia and Wavy Gravy, have drawn thousands to buy stock in Ben & Jerry's and to sell its products.
"I got into this business 12 years ago and, truly, that's why I got into it." Garrett said. "I could have gotten a Haagen-Dazs franchise."
Ben & Jerry's may be able to take advantage of a change in Vermont corporate law that allows companies to consider the interests of its employees, suppliers, creditors, customers and the economy of the state in deciding a takeover bid.
Take a number please
Students at Strong Hall wait for the late-enrollment line to shorten as they prepare schedules and check which classes are closed. Yesterday was the first day for late enrollment. The
last day for late enrollment is Jan. 28. Today is the first day of the add/drop period, which also ends Jan. 28. Photo by Carrie Julian/KANSAN.
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