Unilever completes demerger of Magnum Ice Cream Company as it accelerates portfolio shift
The newly listed Magnum Ice Cream Company begins independent operations as Unilever sharpens its focus on health and wellness brands.
UK – Unilever has finalized the separation of its global ice cream division, now operating as The Magnum Ice Cream Company (TMICC), marking a significant milestone in the company’s ongoing portfolio reshaping.
The completion follows a revised timetable prompted by the recent U.S. federal government shutdown, which affected regulatory processes.
TMICC begins trading as an independent entity with a strong portfolio that includes major brands such as Magnum, Ben & Jerry’s, Wall’s, and Cornetto. Shares of the new company are now listed on stock exchanges in London, Amsterdam, and New York.
Peter ter Kulve, CEO of TMICC, described the launch as a pivotal moment for the business. He noted that the company had grown into the global leader in ice cream under Unilever, and the transition to a standalone operation would allow for greater agility and strategic focus.
He added that TMICC’s priorities include driving growth, improving productivity, and reinvesting in the business in alignment with the medium-term objectives outlined at its Capital Markets Day.
According to ter Kulve, the company aims to “lead the frozen snacking revolution” by creating new consumption occasions, advancing product innovation, and enhancing customer service.
He said TMICC is positioned to deliver value to shareholders and wider stakeholders while continuing to serve millions of ice cream consumers worldwide.
The demerger is part of a broader restructuring strategy by Unilever, which is increasingly concentrating on its health and wellness offerings. The company has been actively divesting food-related assets as it reorients its business toward higher-growth categories.
Recently, Unilever reached an agreement to sell its snacking brand Graze to German confectionery manufacturer Katjes International for an undisclosed amount.
The transaction, executed through Katjes’ UK subsidiary Future Snacks, is expected to be completed in the first half of 2026. Earlier this year, Unilever also agreed to divest its plant-based brand The Vegetarian Butcher to Vivera.
Unilever CEO Fernando Fernandez said the company is allocating approximately €1.5 billion (US$1.74 billion) annually for mergers and acquisitions, with a strong emphasis on opportunities in the United States.
He added that nearly 60% of the company’s capital expenditure is being directed toward initiatives that support margin expansion. Fernandez emphasized that Unilever plans to continue its share buyback programs whenever surplus cash is available.
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