Key Highlights
- The Magnum Ice Cream Company acquires 61.9% stake in Kwality Wall’s India.
- Acquisition completed under share purchase agreement with Unilever dated June 25 2025.
- Kwality Wall’s India to remain listed on BSE and NSE as a majority owned subsidiary.
- Mandatory tender offer launched as per Indian regulatory requirements.
- TMICC may reduce stake to 75% within one year to meet minimum public shareholding norms.
- Transaction aimed at strengthening presence in high growth Indian ice cream market.
Kwality Wall’s (India) Limited announced that The Magnum Ice Cream Company (TMICC) has completed the acquisition of a 61.9% equity stake in the company. The transaction was executed under a share purchase agreement signed with Unilever on June 25, 2025.
Following the completion of the deal, Kwality Wall’s India will continue to operate as a listed entity on both the BSE and NSE. The company will now function as a majority-owned subsidiary of TMICC, which is recognised as the world’s largest ice cream company.
The acquisition marks a significant strategic move for TMICC to expand its footprint in India, one of the fastest-growing consumer markets globally. The company aims to leverage Kwality Wall’s established brand portfolio, extensive distribution network, and local manufacturing capabilities to drive long-term growth.
According to the company’s management, the transaction combines TMICC’s global expertise and innovation capabilities with Kwality Wall’s strong domestic presence. This is expected to accelerate category growth and strengthen the company’s position in India’s competitive ice cream segment.
As part of regulatory compliance under Indian takeover norms, a mandatory tender offer has been initiated. This offer is expected to be completed within the next four to six months. If TMICC’s shareholding exceeds 75% after the tender process, the company will reduce its stake within one year to meet minimum public shareholding requirements.
Kwality Wall’s India remains one of the leading players in the country’s ice cream and frozen desserts market, with a strong portfolio of well-known brands including Kwality Wall’s, Magnum, and Cornetto.
The development is expected to enhance operational efficiencies, expand product offerings, and improve market penetration across urban and rural regions in India.