Magnum Ice Cream valued at $9.1b in Amsterdam IPO
Magnum Ice Cream Company made its Amsterdam listing on Monday, with shares trading at €12.8 each, valuing the company at €7.84 billion ($9.14 billion). The spinoff from Unilever creates the world’s largest standalone ice cream business.
CEO Peter ter Kulve called the milestone a step toward becoming more agile, focused, and ambitious as an independent company. Magnum, home to brands like Wall’s, Cornetto, and Ben & Jerry’s, will also list in London and New York, News.Az reports, citing Reuters.
The company controls over 20% of the $87 billion global ice cream market and aims to leverage a pure focus on indulgent snacks. However, the IPO faces challenges, including changing consumer trends around sugar and health, and unresolved financial governance issues with the Ben & Jerry’s Foundation, which represents nearly 14% of Magnum’s revenue.
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