Unilever expects to list its ice-cream business in early December, the Magnum and Ben & Jerry’s maker has said.
The demerger of ice cream from the wider FMCG group was first announced in 2024 and was expected to be completed in mid-November. However, Unilever said last month the process would be delayed because of the US government shutdown.
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Trading as The Magnum Ice Cream Company (TMICC), the demerged business is set to list in New York, London and Amsterdam.
In an update yesterday (4 November), Unilever said it now expects to complete the spin-off on 6 December. Listing and trading is projected to start on 8 December followed by the post consolidation of group shares on 9 December.
Unilever noted the schedule is still subject to change and it will provide further updates if required.
TMICC, which will also house the Cornetto and Wall’s ice-cream brands amongst others, is led by CEO Peter ter Kulve and CFO Abhijit Bhattacharya.
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By GlobalDataAs previously disclosed, Unilever plans to retain a nearly 20% holding in the business for up to five years, with an intention to reduce that stake over time.
In the third‑quarter results announcement in October, Unilever CEO Fernando Fernandez said the demerger would be completed by the end of the year to “create a simpler Unilever, with a sharper focus and structurally higher margin profile”.
Unilever reported underlying sales growth of 3.9% and a group turnover of €14.7bn ($16.9bn). Ice cream delivered 3.7% underlying sales growth and a turnover of €2.3bn.
Over the nine‑month period, ice cream recorded 5.1% underlying sales growth with cumulative turnover of €6.9bn.
Outside of ice cream, Unilever’s food unit posted 3.4% underlying sales growth in the third quarter with turnover of €3.1bn.
For the nine months, it grew 2.6% on an underlying basis with €9.7bn in cumulative turnover.
