Shares in the newly independent Magnum Ice Cream Company opened weakly in Amsterdam on Monday, debuting at €12.8 apiece, below the €13 reference price set for the spinoff. The listing values the business at €7.84 billion ($9.14 billion), creating the world’s largest standalone ice cream company.
The long-planned separation from Unilever, finalized today, ends decades of ownership by the Anglo-Dutch consumer giant. Unilever cited limited synergies between Magnum’s temperature-controlled supply chain and its broader portfolio of foods, soaps (Dove) and deodorants (Axe). The carve-out allows Unilever to streamline its operations while giving Magnum full autonomy.
Magnum CEO Hein Schumacher (who remains Unilever CEO during the transition) said the standalone structure will make the company “more agile and focused,” enabling faster decisions and sharper innovation in a €120 billion global ice cream market.
However, the new entity faces headwinds: intensifying anti-obesity regulation, consumer shifts toward healthier indulgence, and ongoing reputational challenges at subsidiary Ben & Jerry’s over political activism. Despite the soft debut, analysts believe pure-play ice cream companies can command premium valuations long-term if growth accelerates.
Trading continues under ticker “MAGM.AS” on Euronext Amsterdam.