Shares in Magnum Ice Cream Company, the owner of Ben & Jerry's and other popular brands, surged after reports that private equity firms Blackstone and CD&R are exploring a potential takeover. The company, which was spun off from Unilever in December 2025, saw its stock jump 21% before settling at a £7.5 billion valuation.
The private equity firms are reportedly waiting for Magnum's summer sales report before deciding whether to proceed with a bid. Unilever retains a 19.9% stake in the company and plans to exit within five years. Meanwhile, a group led by Ben & Jerry's co-founder Ben Cohen has been advocating for the brand's independence, criticizing both Magnum and Unilever for allegedly undermining its social mission.
Magnum reported first-quarter sales growth in April that exceeded expectations, boosting investor confidence. The company owns brands such as Magnum, Cornetto, Heartbrand, and Ben & Jerry's. Blackstone declined to comment, while CD&R and Magnum did not immediately respond to requests for comment.