Unilever PLC completed the demerger of its ice‑cream business on 6 December 2025, creating The Magnum Ice Cream Company (TMICC) as a standalone entity. TMICC will begin trading on Monday, 8 December on the Euronext Amsterdam, London Stock Exchange and New York Stock Exchange, with a 5‑for‑1 share consolidation effective 9 December to keep share‑price and per‑share metrics comparable.
The new company will own the flagship brands Magnum, Walls, Ben & Jerry’s, Cornetto and Popsicle. Unilever will retain a minority stake of 19.9 % in TMICC for up to five years, allowing it to benefit from the growth of the ice‑cream business while freeing capital for higher‑margin segments.
The spin‑off is part of Unilever’s broader “Growth Action Plan,” which seeks to simplify the portfolio, focus on its “Power Brands” and improve the overall margin profile. In Q3 2025, Unilever’s underlying sales grew 3.9 % year‑over‑year, with the ice‑cream segment contributing 3.7 % of that growth. Excluding ice‑cream, underlying sales rose 4.0 % versus 3.1 % in Q2, underscoring the relative strength of the remaining business groups.
CEO Fernando Fernandez said the separation will “create a simpler Unilever, with a sharper focus and structurally higher margin profile.” The move is expected to lift Unilever’s operating margin by removing a lower‑margin, seasonally sensitive business, while TMICC will pursue its own growth trajectory in the global ice‑cream market.
Analysts noted that the demerger could improve Unilever’s valuation by clarifying its earnings profile. The market reaction on 5 December was modest, with Unilever shares rising 0.4 % in London, reflecting investor confidence that the company is executing its strategic plan. TMICC’s listing is expected to attract investors seeking exposure to the premium ice‑cream segment, which has shown resilience in Q3 2025 with a 3.7 % sales gain driven by pricing power amid flat volume.
The share consolidation, effective 9 December, will reduce the number of shares outstanding by a factor of five, keeping the market capitalization unchanged while aligning per‑share metrics with the new corporate structure. This step ensures that investors can compare performance before and after the spin‑off without distortion from share‑count changes.
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