Blackstone, Cd&r ‘eyeing The Magnum Ice Cream Company’

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

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

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

One root suggested TMICC’s ice-cream income complete nan summertime play are different facet 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 nan clip of writing.

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

Unilever still owns 19.9% of nan branded ice-cream business but has antecedently said it will upwind down that stock gradually complete 5 years.

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

“Our operational rigour is improving,” ter Kulve told analysts past period arsenic he discussed nan numbers. “I’m particularly pleased pinch nan measurement publication – this represents nan benignant of value maturation we purpose for and reflects nan activity that we person done connected invention and execution.

“We are seeing this moving crossed nan business pinch each region contributing to our growth.”

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

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

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