Unilever(UL) is giving its ice cream business a solo stage with the upcoming spinoff, or demerger, as the Europeans call it, of The Magnum Ice Cream Company—a sweet spinoff expected to launch in mid-November 2025. Yes, that includes your favorite indulgent brands: Magnum, Ben & Jerry’s, Cornetto, Wall’s, and Talenti—now headlining their own freezer aisle. Way back on March 19, 2024, Unilever announced the spinoff plan which is finally coming to fruition in a few short months.
What’s the Scoop?
The plan is bold but straightforward: split off the ice cream empire into a standalone entity headquartered in the Netherlands with primary listings in Amsterdam, plus secondary listings in London and New York. Unilever will retain less than a 20% stake for up to five years—just enough to keep some skin in the game without hogging freezer space. The company completed the operational separation at the end of June 2025, sharing this lovely presentation introducing The Magnum Ice Cream Company in June.
Why Now? Because Ice Cream Deserves Its Own Spotlight
Ice cream has been carrying Unilever’s growth story. In the first half of 2025, ice cream sales surged nearly 6%, making it the company’s top-performing category. It outpaced beauty, personal care, and food—proving that dessert is sometimes the main course.
Unilever’s broader strategy is to slim down and focus on higher-margin, digital-friendly categories like beauty and personal care. In 2024, the company even cut 7,500 jobs as part of its “Growth Action Plan.” Ice cream, with its unique supply chain quirks and seasonal swings, simply didn’t fit neatly in the same basket as shampoo and soup.
Also, though not explicitly stated, the unique structure of the company’s ownership in Ben & Jerry’s and repeated clashes over political stances and action taken by its independent Board have made it untenable for Unilever to continue owning the brand.
What Makes Magnum Ice Cream Company Special
- Operational Independence: Ice cream has very different supply chains, costs, and seasonality compared to Dove soap or Knorr. Breaking free allows it to optimize on its own terms.
- Market Muscle: With five of the top ten global ice cream brands, the new company starts with roughly €15 billion in annual revenue. That’s not just a scoop—it’s a double sundae.
- Employee Security: Staff in Europe and the UK are guaranteed their salaries, pensions, and benefits for three years—far beyond the legal minimum. No rocky road here.
- Flavor and Flair: Magnum’s indulgence, Ben & Jerry’s activism, Cornetto’s European nostalgia—all now free to chart their own paths under a new corporate umbrella.
More Than Just a Smoothie Spin
- Valuation Clarity: Unilever sheds the seasonal swings of ice cream, becoming more streamlined in beauty and personal care.
- A Sweet Pure Play: Investors get two distinct plays: a beauty/personal care company and a global ice cream powerhouse.
- Innovation Potential: Freed from Unilever’s broader bureaucracy, Magnum Ice Cream Company can pursue bolder flavors, novel distribution, and new market opportunities.
Unilever is essentially saying: “Ice cream, you’re the star today.” By giving Magnum and its frozen friends their own public listing, it creates space for growth, valuation clarity, and investor appetite. Whether shareholders scream for ice cream remains to be seen—but for now, this spinoff looks like a cherry on top.
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