Ben & Jerrys Finance Report

Group 1

Managerial Finance

26 Aug, 1999

A Little History: Ben & Jerry's, Vermont's Finest Ice Cream and Frozen Yogurt, was founded in 1978 in a renovated gas station in Burlington, Vermont, by childhood friends Ben Cohen and Jerry Greenfield with a $12,000 investment ($4,000 of which was borrowed.) They soon became popular for their innovative flavors, made from fresh Vermont milk and cream. The company works to employ its Mission Statement in as many day to day business decisions as possible so that the company is profitable and the community can profit by the way Ben & Jerry's does business.

Corporate Profile: Ben & Jerry's Homemade, Inc. is a Vermont (USA) corporation. They make super premium ice cream, frozen yogurt, and ice cream novelties in unique as well as traditional flavors; their products are marketed through supermarkets, grocery stores, convenience stores, and food service operations, as well as through licensed scoop shops, franchised scoop shops, and company-owned scoop shops. Ben & Jerry's products are distributed in all 50 states, and you'll find over 120 Ben & Jerry's franchised scoop shops in 20 states (including Washington, D.C.). Internationally, there are franchised scoop shops in Canada and licensed scoop

Group 2 shops in Israel and The Netherlands. In 1988 Ben & Jerry's Homemade, Inc. created a document called the Statement of Mission. They are dedicated to the creation & demonstration of a new corporate concept of linked prosperity. Our mission consists of three interrelated parts: product, economic and social.

Ben & Jerry's Philanthropy: Ben & Jerry's gives ...

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... retail sales while helping to streamline their delivery process.

Expansion is on their horizon, with significant opportunities for the Ben & Jerry's brand name in, for example, novelties and confectionery items. They've also identified and are investigating potential opportunities to expand through licensing arrangements, partnerships and acquisitions. As they pursue these opportunities, however, we remain committed to supporting their core business without cannibalizing the assets and brand loyalty upon which they've built their business.

The successes they achieved in 1998 would not have been possible without the talents and hard work of their dedicated Ben & Jerry's employees and the loyal support of their shareholders. Together, they approach our 21st year in business conscious that it will bring both opportunities and challenges.

While their marketing and communication challenges have never been bigger-their expectations have never been higher. I remain committed to building on the forward momentum they've achieved to produce steady, sustained growth for their shareholders, with a conscientious eye toward their economic, product and social missions.