Overview
- The Netherlands-based Magnum Ice Cream Company HoldCo 1 Netherlands B.V. closed the deal on March 30, transferring 145.44 crore shares under a June 2025 share purchase agreement.
- Regulatory reclassification under India’s listing rules named Magnum the new promoter, which is the controlling shareholder under Sebi’s framework.
- Exchange filings said the outgoing Unilever group moved to the public shareholder category and no longer holds equity or control rights in the company.
- Board changes took effect March 30, installing Abhijit Bhattacharya as non-executive chair, adding Tahir Toloy Tanridagli as an additional non-executive director, and recording the resignation of Ritesh Tiwari, with new appointments subject to shareholder approval.
- Company leaders said the strategy will combine Magnum’s global brand strength and innovation with Kwality Wall’s local factories and wide distribution to accelerate sales in India’s under-penetrated ice cream market.