Magnum CEO Dismisses Ben & Jerry's Sale Amid Spin-Off Plans

Magnum Ice Cream Company CEO Peter ter Kulve has dismissed rumors about selling Ben & Jerry's, affirming the brand is not for sale as the company focuses on regaining market share and increasing sales ahead of its spin-off from Unilever. The separation from Unilever has enabled Magnum to invest significantly in supply chains, sales, and distribution, leading to a notable market share increase last year. The spin-off will include brands such as Magnum, Ben & Jerry’s, Wall’s, and Cornetto, with Unilever retaining less than a 20% stake after the mid-November listing. Although reports suggest a valuation of around €15 billion ($17.55 billion), ter Kulve emphasized that the market will determine the final price. CFO Abhijit Bhattacharya highlighted that the demerger structure, which allocates shares to Unilever shareholders, reduces market volatility typical of initial public offerings. Additionally, Magnum is addressing health concerns by reducing sugar content and eliminating artificial coloring while maintaining product taste amid increasing scrutiny over sugar-heavy products, especially in the U.S. market.