Trump Says Anthropic No Longer Seen as National Security Threat 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
Obayashi to Acquire Multiplex in $526M Expansion Deal 
Carro Expands Into Australia With Acquisition of Used-Car Platform CarPlace 
Qantas Unveils Wellness-Focused Nonstop Sydney-London Flights to Reduce Jet Lag 
Saudi Aramco Explores Sulphur Business Stake Sale to Raise Billions 
TD Bank Expands Employee Monitoring Software to Boost Productivity Amid Privacy Concerns 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
Hyundai to Acquire SoftBank’s Remaining Boston Dynamics Stake for $325 Million 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
Ukrainian Drone Makers Target Japan and Asia Defense Market 
BHP Shares Fall as Jansen Potash Project Costs Surge 
Unilever’s ice cream division, led by Magnum, is preparing for a mid-November stock market debut as a stand-alone company. The spin-off, which also includes brands like Ben & Jerry’s, Wall’s and Cornetto, aims to deliver faster growth, streamlined operations, and new product innovation.
The new Magnum Ice Cream Company is targeting 3-5% average annual organic sales growth from 2026, matching Unilever’s long-term outlook but above the division’s historic 3%. The business, which generated €7.9 billion ($9.3 billion) in revenue and €1.3 billion in adjusted EBITDA in 2024, will enter the market with an initial net debt to EBITDA ratio of 2.4x.
Unilever will retain a stake of less than 20%, while the new company is expected to hold just over 20% of the $88 billion global ice cream market, second only to Nestlé-backed Froneri. The market itself is projected to grow to nearly $106 billion by 2029.
Magnum has recently reversed years of stagnation, regaining nearly 21% global share, significantly ahead of rivals like Häagen-Dazs. To boost profitability, the company plans €500 million in productivity savings by cutting overheads, leveraging technology, and optimizing its cold supply chain.
Despite being Unilever’s fastest-growing category in Q2 with 7.1% underlying sales growth, ice cream has historically delivered lower margins than divisions like beauty and personal care. The spin-off reflects Unilever CEO Fernando Fernandez’s strategy to streamline the company’s portfolio, improve efficiency, and enhance shareholder value.
The listing comes amid wider industry shake-ups, with Kraft Heinz, Keurig Dr Pepper, and Nestlé also pursuing restructuring and portfolio adjustments. While health-conscious trends and GLP-1 weight-loss drugs pose potential challenges, Magnum maintains that their impact will be limited.
At stake is investor appetite for a sugar-heavy product line in a shifting consumer landscape, making the spin-off a crucial test for Unilever’s new strategic direction.
