Mumbai: Magnum Ice Cream Company is set to acquire a 61.9% stake in Kwality Wall’s (India) Ltd (KWIL), following a strategic move by Unilever to demerge its ice-cream business globally. The acquisition will take place through Magnum Ice Cream Company HoldCo 1 Netherlands B.V. (“Magnum HoldCo”), which has signed a definitive share purchase agreement to acquire the full stake that will be held by the Unilever Group post-demerger.
The transaction is part of Unilever’s broader Growth Action Plan (GAP), announced in 2023, which aims to simplify operations by separating the ice-cream division into an independent global entity. Unilever plans to focus its efforts on four core business areas: beauty and well-being, personal care, home care, and nutrition. The separation of the global ice-cream unit is expected to be finalised by Q4 2025.
In India, the process began with Hindustan Unilever Ltd (HUL) securing board-level in-principle approval to spin off its ice-cream business into a standalone, listed company. Under the proposed demerger, shareholders of HUL will receive proportional shares in the new entity, Kwality Wall’s (India) Ltd.
Once the demerger is completed and the new company is listed, Magnum HoldCo will acquire the 61.9% stake allotted to Unilever Group. In addition, an open offer will be made to the public shareholders of KWIL in accordance with regulatory requirements.
Unilever’s move reflects a strategic pivot to allow more focused growth in core segments, while enabling the ice-cream division—home to brands such as Kwality Wall’s and Magnum—to scale independently in a competitive and rapidly evolving global market.
