Blackstone and CD&R Explore Bids, Driving Magnum Ice Cream Shares Up 12%
Blackstone and Clayton, Dubilier & Rice are exploring bids for The Magnum Ice Cream Company, whose shares jumped nearly 12% to 1,260 pence in London trading. TMICC reported Q1 organic sales growth of 4.5% to €1.77 billion as Unilever holds a 19.9% stake and plans a full exit over five years.
1. Private Equity Interest
Blackstone and Clayton, Dubilier & Rice are exploring bids for The Magnum Ice Cream Company since its spin-off, monitoring share-price trends and summer sales to gauge valuation prospects.
2. Share Price Performance
TMICC shares surged nearly 12% to 1,260 pence in London after reports of buyout interest, following a year-to-date gain of 8.6% from its December IPO price.
3. Financial and Ownership Details
In Q1, TMICC achieved 4.5% organic sales growth to €1.77 billion and 2.9% volume growth; Unilever retains a 19.9% stake, set to be wound down over five years, with full exit planned.