Unilever's Major Ice Cream Restructuring: Magnum HoldCo Acquires Kwality Wall's
Unilever, a major FMCG company, announces that Magnum HoldCo will acquire 61.9% of Kwality Wall's (India) Ltd. This follows the demerger of Unilever's ice cream business into a standalone entity, The Magnum Ice Cream Company. The acquisition awaits regulatory approvals and an open offer per Indian regulations.
- Country:
- India
Global FMCG giant Unilever revealed on Wednesday that Magnum HoldCo will take over 61.9% of Kwality Wall's (India) Ltd., post-demerger. This acquisition is part of the restructuring of Unilever's ice cream business, now forming a new company, The Magnum Ice Cream Company.
Unilever PLC plans to completely spin off its ice cream division by the fourth quarter of 2025. The spinoff includes steps such as demerging Hindustan Unilever Ltd's (HUL) ice cream segment into an independent entity, Kwality Wall's (India) Ltd (KWIL).
The acquisition by Magnum HoldCo is contingent upon the successful completion of the KWIL demerger, regulatory green lights, and an open offer to public shareholders in accordance with India's takeover regulations, Unilever stated.
(With inputs from agencies.)
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