Unilever Retains Minority Stake in Spun-Off Ice Cream Business

Unilever is spinning off its ice cream division into an independent publicly-traded company named The Magnum Ice Cream Company, with a primary listing in Amsterdam and secondary listings in London and New York, expected by mid-November. The division includes well-known brands such as Magnum, Ben & Jerry's, Cornetto, and Wall's, and Unilever will retain a minority stake of less than 20% for up to five years. The ice cream business demonstrated strong sales growth of 5.9%, contributing significantly to Unilever's overall 3.4% sales increase in the first half of the year, though underlying operating profit in the ice cream segment declined slightly. Unilever's broader portfolio showed mixed results with personal care and beauty & wellbeing sectors performing well, while food and home care lagged. The company is undergoing a strategic turnaround under new CEO Fernando Fernandez, focusing more on high-growth segments and premium products, and anticipates improved profit margins and accelerating sales growth in emerging markets. Despite strong sales, Unilever reported a profit drop attributed to restructuring costs and currency headwinds, with plans to deliver significant productivity savings by the end of 2026.