As of this week, The Magnum Ice Cream Company is now operating as a standalone business within the Unilever Group.
It marks a major step towards Unilever’s ice cream demerger, which is due to take place in Q4 of this year.
TMICC: An ‘exciting’ moment for ice cream
The creation of The Magnum Ice Cream Company (TMICC) has taken over a year. Unilever first announced plans to exit the ice cream business in March 2024, in an effort to streamline operations.
Now, Unilever brands including Wall’s, Ben & Jerry’s, and of course, Magnum, are being managed under a standalone business within Unilever – rather than the Ice Cream Business Group.
Employees are celebrating the news. It’s an “exciting moment” in the world of ice cream, says Zbigniew Lewicki, chief research, design and innovation officer at The Magnum Ice Cream Company, on social media.
“In Research, Design and Innovation, we’re proud to be part of this new chapter.”
In setting up TMICC as a standalone business, Unilever has completed its “internal separation”, including setting up legal entities and new operating models.
TMICC will continue to sell Unilever’s iconic ice cream brands into 80 countries, maintaining its position as the largest ice cream company in the world.
What’s next for The Magnum Ice Cream Company?
From now on, TMICC will operate as a separate entity. From Q4, Unilever will report Ice Cream as a discontinued operation.
It’s then that Unilever plans to list TMICC. The company will be incorporated and headquartered in the Netherlands, with shares listed in Amsterdam, London and New York.
TMICC is currently looking for investors, contending that the ice cream market is “large, growing and resilient”, and that the company has a “clear strategy” to deliver growth and improved productivity.
This includes developing “market-making” NPD, expanding its range across channels and price points, and expanding brands internationally through partnerships – such as Ben & Jerry’s collaboration with Sunny Honey Home flavour, developed with members and allies of the migrant entrepreneur community.
To improve productivity, TMICC plans to reduce overheads, “transform” its supply chain, and leverage technology to boost output.
