Launch Following Unilever Demerger
Magnum Ice Cream Co. officially debuted in early December following Unilever’s demerger of its ice cream business. The company generates approximately €7.9 billion ($9.3 billion) in annual sales and manages well-known brands including Ben & Jerry’s, Breyers, Cornetto, Klondike, Magnum, Talenti, and Yasso.
The company began trading on the New York Stock Exchange under the ticker MICC on December 8. Shares opened at $14.90, fluctuating between $14.51 and $16.47 since the debut.
Leadership and Global Operations
Led by CEO Peter ter Kulve, Magnum Ice Cream employs over 19,000 people worldwide and operates more than 30 manufacturing plants.
In its December 3 prospectus, the company announced a comprehensive supply chain transformation program to address inefficiencies caused by aging plants and limited capital investment. Planned improvements include:
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Streamlining stock-keeping units
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Enhancing procurement processes
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Using artificial intelligence for better forecasting
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Rebalancing manufacturing and logistics networks
These changes are projected to generate €350 million to €380 million in medium-term savings.
Mission and Market Growth
Jean-François van Boxmeer, Chair of the Board, emphasized in a letter to shareholders:
“Our mission is simple yet powerful: to turn everyday moments into lasting memories.”
As the world’s largest independent ice cream company, Magnum Ice Cream aims to innovate faster, empower teams, and drive cultural and structural transformation.
The global ice cream market is valued at approximately €75 billion ($88 billion) and is growing at a 3.7% CAGR, with expected growth of 3%–4% from 2024 to 2029. Magnum identifies Froneri International Ltd. as its largest competitor, with Magnum holding 21% market share and Froneri 11%.
Brand Portfolio and Performance
Magnum Ice Cream highlights four power brands that generated €6.5 billion in sales in fiscal 2024:
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Heartbrand (includes Carte d’Or, Calippo, Golden Gaytime)
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Magnum
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Ben & Jerry’s
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Cornetto
Magnum targets the premium segment, mostly consumed away-from-home, and is known for its signature chocolate coating. Bite-size formats like bon bons are also expanding the brand’s reach.
Ben & Jerry’s focuses on at-home consumption via the pint format, while Cornetto offers a wafer cone with chocolate-filled tip, consumed primarily away-from-home.
Retail Strategy and Channel Expansion
Retail is Magnum’s largest commercial channel. As an independent company, it is redefining trade terms to reflect the unique economics of ice cream rather than conforming to Unilever’s multi-category model.
Key improvements include:
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Optimizing delivery timing and promotion structures
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Reducing replenishment costs
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Managing freezer space and cold chain logistics
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Adapting to seasonal sales dynamics
The company is also replicating Ben & Jerry’s global expansion model with other brands, including Yasso and Talenti, to unlock new growth opportunities.
Innovation and “Better-for-You” Products
The acquisition of Yasso in 2023 enabled entry into lifestyle nutrition and new product formats, with 20% CAGR growth between FY2022–FY2024.
Talenti is positioned as the “ultimate indulgence” in the US super-premium gelato segment, achieving 3.5% CAGR growth between FY2022–FY2024, offering strong potential for cross-border expansion.
Geographic Market Focus
Magnum Ice Cream’s largest market is Europe, with annual sales of €3.1 billion in fiscal 2024. The Americas follow with €2.9 billion, while the rest of the world contributes €2 billion in sales.
