Magnum Ice Cream stock soars on report of private equity takeover
Shares of Ben & Jerry’s parent company Magnum Ice Cream Company It rose as much as 18% after Reuters reported it Karataş and CD&R are among the firms in the early stages of exploring bids for the company.
It comes less than six months after his departure Unilever Creating the world’s largest freestanding ice cream machine.
Private equity firms monitor the company’s share price before deciding whether to make a move, according to a Reuters report citing sources familiar with the matter. Potential bidders were waiting for Magnum to report summer sales before making a decision, Reuters reported.
The stock, which entered trading on Friday, traded near its December 8, 2025 exit price.
Magnum’s Amsterdam-listed shares were up 12% at 1 p.m. London time (8 a.m. ET), while U.S.-listed shares were up a similar amount in premarket trading.
A Magnum spokesperson said the company does not comment on rumors or speculation. Blackstone and CD&R declined to comment.
Magnum’s shares listed in Amsterdam.
In addition to its eponymous ice cream brand, Magnum also owns Cornetto, Heartbrand and Ben & Jerry’s.
Analysts have warned about a lack of visibility into Magnum’s growth prospects.
UBS analysts said earlier this month that Magnum, similar to other consumer goods companies, “will face energy and input cost inflation as well as potential deterioration in consumer sentiment as a result of the conflict in the Middle East.”
However, they also noted that it retains a few buffers, such as the ability to offset cost inflation through better-than-expected commodity headwinds for dairy and palm oil.
A group led by Ben & Jerry’s co-founder Ben Cohen is advocating for the brand to remain independent. The “Free Ben & Jerry’s” campaign has been going on for years, and Cohen accuses both Magnum and its previous owner, Unilever, of undermining its social mission. The ice cream brand was sold to Unilever in 2000.
Magnum reported sales growth in the first quarter In April, there was an increase above expectations due to the increase in volume after a large loss in the previous quarter. Quarterly sales amounted to 1.77 billion euros ($2.06 billion).
“Improvements are clearly evident in practice – particularly in Europe – but growth remains uneven and margin/yield uncertainty remains,” a Jefferies analyst said earlier this month. “Q2 represents 35% of annual sales and will be critical to perceptions.”
The first three months of the year are seasonally weaker, and market observers now expect summer sales to peak, when ice cream is in highest demand.
The company has a market cap of about $9 billion and trades at about 15 times forward earnings, excluding Friday’s move.
