Blackstone and CD&R are reportedly interested in acquiring The Magnum Ice Cream Company, which was recently spun-off by Unilever but is still part-owned by the FMCG giant.
TMICC was only listed in London, Amsterdam and New York late last year following the separation from Unilever but sources for Reuters have suggested investors Blackstone and CD&R are eyeing putting in a bid for the ice-cream business
Those sources ‘familiar with the matter’ said the pair of private-equity firms are in the ‘early stages of exploring bids’ for TMICC but are first monitoring the company’s share-price performance, according to Reuters reporting today (15 May). One source suggested TMICC’s ice-cream sales over the summer period are another factor under consideration. Blackstone and CD&R declined to comment when contacted by Just Food.
TMICC acknowledged Just Food’s request for comment but had not responded at the time of writing. TMICC’s shares were up on the day in London, trading at 1,260 pence as of 13:20 BST, marking an increase of almost 12%. They have climbed 8.6% so far this year.