N.J. pulls pension funds from Ben & Jerry’s parent company over boycott of Israel

N.J. pulls pension funds from Ben & Jerry’s parent company over boycott of Israel

New Jersey is no longer investing in America’s most famous far-left ice cream company.

Earlier this month, the New Jersey Division of Investment informed Unilever (the North Jersey-based parent company of Ben & Jerry’s) of its intention to pull state investments – specifically pension funds – from the company; the decision follows the ice cream subsidiary’s boycott of Israel and Unilever’s resulting $14 billion market capitalization plunge.

“No pension fund assets may be invested in the company, and DOI shall take appropriate action to sell or divest any existing pension fund investments,” explained Division of Investment Director Shoaib Khan, referencing a 2016 state law barring public employee retirement monies from being invested in companies boycotting Israel. 

“Our anti-BDS law was one of the first in the nation to use the power of state investment decisions to remove support for businesses that boycott Israel,” said state Senator Tom Kean Jr. “The announcement by Treasury that state investment will be prohibited in the parent company of Ben & Jerry’s following a review we requested pursuant to the law we enacted is yet another example that the process works as intended.”

Other states including Arizona have taken similar action.

Ben and Jerry sold their famed company to Unilever over twenty years ago and have no ongoing role in their creation despite continued high-profile Leftist activism outside of the board room.