Shares of Ben & Jerry’s dad or mum firm Magnum Ice Cream Firm jumped as a lot as 18% after Reuters reported that Blackstone and CD&R are amongst corporations within the early phases of exploring a bid for the corporate.
It comes lower than six months after it spun off from Unilever to create the world’s largest standalone ice cream maker.
The personal fairness corporations are monitoring the corporate’s share worth earlier than deciding whether or not to make a transfer, in keeping with the Reuters report, which cites sources conversant in the matter. Potential bidders have been ready for Magnum to report summer season gross sales earlier than making a call, Reuters reported.
Coming into Friday buying and selling, the inventory traded close to debut costs on Dec. 8 2025.
Magnum’s Amsterdam-listed shares ended Friday up 9.1%, whereas U.S.-listed shares rose by an analogous quantity.
A Magnum spokesperson stated the corporate does not touch upon rumors or hypothesis. Blackstone and CD&R declined to remark.
Magnum’s Amsterdam-listed shares.
Magnum owns the eponymous ice cream model, in addition to Cornetto, Heartbrand, and Ben & Jerry’s.
Analysts have cautioned concerning the lack of visibility on Magnum’s development prospects.
Much like different client items firms, Magnum “will face vitality and enter price inflation because of the battle within the Center East, in addition to potential disruption to client sentiment,” stated UBS analysts earlier this month.
They famous, nonetheless, that it had a number of buffers at its disposal, akin to the flexibility to cowl price inflation through better-than-expected commodity tailwinds for dairy and palm oil.
A gaggle led by Ben & Jerry’s co-founder Ben Cohen has been advocating for the model to develop into impartial. The marketing campaign, dubbed “Free Ben & Jerry’s,” has been ongoing for years, with Cohen slamming each Magnum and former proprietor Unilever for squashing its social mission. The ice cream model was bought to Unilever in 2000.
Magnum reported first-quarter gross sales development in April that beat expectations, pushed by quantity development, following a big miss within the earlier quarter. Quarterly gross sales have been 1.77 billion euros ($2.06 billion).
“Execution enhancements are evident—notably in Europe—however development stays uneven & margin/return uncertainty persists,” stated Jefferies analyst earlier this month. “2Q represents c35% of annual gross sales & can be vital to perceptions.”
The primary three months of the yr are usually seasonally weaker, and market watchers at the moment are seeking to peak summer season gross sales, when ice cream tends to be most in demand.
The corporate has a market cap of about $9 billion, and trades at round 15 instances ahead earnings, excluding Friday’s transfer.
