New Jersey Says It Intends To Divest From Ben & Jerry's And Parent Company Unilever Over Israeli Settlement Ban
TRENTON, N.J. (CBSNewYork) -- The Garden State may follow Arizona's lead and divest from Ben & Jerry's and its parent company, Unilever, over their ban on sales in Israeli-occupied territories.
Unilever is a London-based company, but its Northern American headquarters is in Englewood Cliffs.
New Jersey is one of 35 states with anti-boycott laws.
"The division reached a preliminary determination that Unilever's actions did in fact constitute such a boycott and sent a letter to Unilever notifying the company of its provisional determination. Upon final determination, 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," said Shoaib Khan, director of the New Jersey Division of Investment.
Web Extra: Read the letter (.pdf)
New Jersey's move comes on the heels of Arizona reaching the same decision. Illinois and Florida have also warned Unilever of their intention to divest.
New Jersey is giving Unilever 90 days to remedy its stance.