Magnum has dismissed speculation about selling Ben & Jerry’s, emphasizing its focus on regaining market share and boosting sales as Unilever prepares to spin off the Magnum Ice Cream Company.
CEO Peter ter Kulve said the separation from Unilever has allowed Magnum to invest in supply chains, sales, and distribution after years of declining market share and stagnant profits. “Last year, we had a massive market share step up,” he noted, News.Az reports, citing Reuters.
Ben & Jerry’s co-founders had previously signaled interest in a buyback, but ter Kulve confirmed: “Ben & Jerry’s is not for sale. I have not been privy to any discussion between Unilever and Ben & Jerry.”
Unilever will retain a stake of less than 20% following the spin-off. Ter Kulve also addressed reports of a potential €15 billion ($17.55 billion) valuation, saying: “The market will decide.” CFO Abhijit Bhattacharya added that the demerger structure, giving each Unilever shareholder a relative stake in Magnum, protects the company from IPO-related volatility.
The new ice cream business faces scrutiny over sugar-heavy products, particularly as the U.S. promotes healthier eating trends. Ter Kulve emphasized Magnum’s ongoing efforts to reduce sugar content and remove artificial coloring without compromising taste: “It has to taste fabulous because actually making very healthy ice cream products that nobody likes is a useless exercise.”
