Magnum Ice Cream Completes 61.9% Acquisition of Kwality Wall's India
The Magnum Ice Cream Company has completed the acquisition of 61.9% of Kwality Wall's (India) Limited (KWIL) shares from Unilever. KWIL will remain listed on Indian stock exchanges. A mandatory tender offer is ongoing, expected to conclude in 4-6 months.
A majority acquisition by a global leader like The Magnum Ice Cream Company signifies a major strategic shift for Kwality Wall's India, with significant implications for its operations, growth, and market position.
The acquisition is seen as a positive development that strengthens TMICC's presence in a key market and combines global expertise with local strengths, positioning KWIL for accelerated growth.
The Magnum Ice Cream Company (TMICC) has announced the completion of its majority acquisition of 61.9% of the equity shares of Kwality Wall’s (India) Limited (KWIL). This acquisition was made under the terms of a Share Purchase Agreement with Unilever dated June 25, 2025.
KWIL will continue to be listed on the BSE and NSE, operating as a majority-owned subsidiary of the TMICC Group. Abhijit Bhachacharya, CFO of TMICC, stated that this transaction strengthens TMICC’s presence in India’s rapidly growing ice cream market by combining TMICC’s global brand strength and innovation capabilities with KWIL’s local heritage, manufacturing footprint, and distribution network.
A mandatory tender offer is currently underway and is expected to conclude within the next 4-6 months. If TMICC’s shareholding exceeds 75% pursuant to the tender offer, it will need to reduce its stake to not more than 75% within one year to comply with minimum public shareholding requirements.
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Kwality Wall's (India) Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Kwality Wall's (India) Limited. Read the original for the full detail.