Magnum Ice Cream Company acquires 61.9% of Kwality Wall’s India

INDIA – The Magnum Ice Cream Company (TMICC) has announced that it has completed the acquisition of 61.9% of the equity shares of Kwality Wall’s (India) Limited (KWIL) under the terms of the Share Purchase Agreement with Unilever dated June 25, 2025.

A mandatory tender offer, made in accordance with applicable Indian laws, is currently underway and it is expected to conclude within the next 4–6 months.

If, pursuant to the tender offer, TMICC’s shareholding in KWIL exceeds 75%, TMICC will be required to reduce its shareholding to not more than 75% within one year, in order to comply with the minimum public shareholding requirements.

Abhijit Bhattacharya, CFO of The Magnum Ice Cream Company: “This transaction strengthens TMICC’s presence in one of the world’s fastest-growing, under-penetrated ice cream markets. It combines TMICC’s global brand strength, and innovation capabilities, with KWIL’s strong local heritage, manufacturing footprint, and extensive distribution network across India.

“With TMICC’s global expertise and the strong local management team in India, we are confident of accelerating category growth and building a future-ready business that continues to create value for consumers and shareholders.”

Kwality Wall’s is one of India’s most iconic frozen dessert brands, with a legacy that stretches back to 1956. Headquartered in Mumbai, it has grown into a household name, offering a wide variety of ice creams and frozen treats that cater to diverse tastes and budgets.

Over the decades, Kwality Wall’s has introduced products such as Cornetto cones, Magnum bars, and its own signature range of ice creams, becoming synonymous with indulgence and everyday enjoyment.

 Magnum Ice Cream Company reports sales of US$8.53B for 2025 full year results

The company reported that FY 2025 revenue was US$8.53 billion, with organic sales growth (OSG) of +4.2 % year-on-year, driven by +1.5% volume growth and +2.6% price growth and reported revenue -0.5% due to forex.

Operating Profit was US$647 million, reflecting a planned net increase of US$127.4 million in separation and restructuring costs in 2025 vs 2024 and forex translation effect.

FY 2025 Adjusted EBITDA margin was 15.9% (FY 2024: 16.9%), impacted by forex translation effect (-50bps) and previously allocated depreciation costs, which are charged as a cash cost from H2 2025 due to Transitional Service Agreements (TSAs) (-50bps).

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