Unilever confirms december dates for ice cream division separation and listing

Unilever expects to complete the spin-off of its ice cream division on December 6, the consumer goods company announced on Tuesday. Unilever previously noted that the schedule had to be adjusted because of the U.S. government shutdown.

Unilever plans to take its ice cream business public with listings in Amsterdam, London, and New York. The Magnum Ice Cream Company (TMICC) shares are expected to start trading on December 8, though the company stressed that the schedule may still change.

The Magnum Ice Cream Company (TMICC) will encompass well-known brands including Magnum, Cornetto, and Ben & Jerry’s, it will be based in Amsterdam. The spin-off had initially been planned for mid-November, but Unilever said it was delayed because the U.S. Securities and Exchange Commission (SEC) could not complete the company’s New York listing during the government shutdown.

Unilever is spinning off its ice cream business because it considers the division less suited to its core operations, Beauty & Well-being, Personal Care, Home Care, and Foods, and believes it will perform better as a standalone company, given its strong seasonality and distinct logistical needs.

Unilever’s annual report notes that its ice cream business generated approximately 7.9 billion euros in revenue in 2024, emphasizing the size of the division being separated.