Unilever delays Magnum Ice Cream Co. spinoff

Breyers Campfire Collection of Smores treats — Courtesy of Unilever

Unilever plc delayed its Magnum Ice Cream Co. spinoff, citing the U.S. Government shutdown. The delay regards the listing of an initial public offering on the New York Stock Exchange.

Unilever initially stated the spinoff would be completed by the end of 2025.

According to CNBC, "The primary listing was originally scheduled for Nov. 10 in Amsterdam, with secondary listings planned in New York and London. Unilever will retain a 19.9% stake in the ice cream business that includes Magnum, Ben & Jerry’s and Cornetto."

In a report in the Independent, Unilever stressed it is still “confident” of launching the demerger later this year despite the delay.

“The preparatory work for the demerger is on track and progressing well, and Unilever remains committed to and confident of implementing the demerger in 2025. “Further updates on the revised timetable will be provided as soon as practicable," Unilever said in a statement.

In a press release in March, Unilever stated The Magnum Ice Cream Co. "leads the industry with an 8.3-billion-euro business, 19,000 expert Ice Cream employees and iconic brands, loved in 76 countries.

the name was “unwrapped” in a special ceremony hosted by Jean-François van Boxmeer, Chairman-designate of the Ice Cream business, and Peter ter Kulve, President of the Ice Cream business, at the new company's new global headquarters in the city center of Amsterdam.

“Our new company name clearly shows that turning ordinary moments into lasting memories is at the heart of what we do. The Magnum Ice Cream Company has an iconic and globallyrecognised portfolio of brands including Magnum, Wall’s, Ben & Jerry’s, and Cornetto. Magnum is an extremely successful and beloved brand. It will bring our full portfolio together, with our Wall’s heart icon beating right in the centre of our logo.” said ter Kulve at the ceremony.