Blackstone, CD&R ‘eyeing The Magnum Ice Cream Company’

Blackstone and CD&R are reportedly funny successful acquiring The Magnum Ice Cream Company, which was precocious spun-off by Unilever but is inactive part-owned by the FMCG giant.

TMICC was lone listed successful London, Amsterdam and New York precocious past twelvemonth pursuing the separation from Unilever but sources for Reuters person suggested investors Blackstone and CD&R are eyeing putting successful a bid for the ice-cream business.

Those sources ‘familiar with the matter’ said the brace of private-equity firms are successful the ‘early stages of exploring bids’ for TMICC but are archetypal monitoring the company’s share-price performance, according to Reuters reporting contiguous (15 May).

One root suggested TMICC’s ice-cream income implicit the summertime play are different origin nether consideration.

Blackstone and CD&R declined to remark erstwhile contacted by Just Food. TMICC acknowledged Just Food's request for remark but had not responded astatine the clip of writing.

TMICC’s shares were up connected the time successful London, trading astatine 1,260 pence arsenic of 13:20 BST, marking an summation of astir 12%. They person climbed 8.6% truthful acold this year.

Unilever inactive owns 19.9% of the branded ice-cream concern but has antecedently said it volition upwind down that stock gradually implicit 5 years.

TMICC reported its first-quarter results successful April. Under the enactment of CEO Peter ter Kulve integrated volumes grew 2.9% versus 1.4% successful the year-earlier quarter.

“Our operational rigour is improving,” ter Kulve told analysts past period arsenic helium discussed the numbers. “I’m particularly pleased with the measurement publication – this represents the benignant of prime maturation we purpose for and reflects the enactment that we person done connected innovation and execution.

“We are seeing this moving crossed the concern with each portion contributing to our growth.”

Despite the disruption from the Middle East connected vigor prices and proviso chains, TMICC stuck with its full-year guidance of integrated income maturation of 3-5% adjacent though that metric delivered 4.5% successful the archetypal 4th to €1.77bn ($2.07bn).

Following the Unilever spin-off, TMICC became the world’s largest standalone ice-cream shaper and by its ain submission successful December said it commands a 21% planetary marketplace share, astir treble the 11% of its nearest rival, investor-backed Froneri.

Unlike UK-headquartered branded and private-label focused Froneri, successful which Nestlé holds a 50% involvement successful a concern with PAI Partners dating backmost to 2016, TMICC is solely focused connected branded crystal pick with good known names specified arsenic Wall’s, Cornetto and Ben & Jerry’s.

"Blackstone, CD&R ‘eyeing The Magnum Ice Cream Company’" was primitively created and published by Just Food, a GlobalData owned brand.