Published on: April 3, 2026
The Magnum Ice Cream Company (TMICC), the world’s largest ice cream company, today announced that it has completed the acquisition of 61.9% of the equity shares of Kwality Wall’s (India) Limited (KWIL) under the terms of the Share Purchase Agreement with Unilever dated June 25, 2025.
KWIL will continue to trade on BSE and NSE, the Indian stock exchanges, as a majority-owned subsidiary of the TMICC Group.
Abhijit Bhattacharya, CFO of The Magnum Ice Cream Company: “This transaction strengthens TMICC’s presence in one of the world’s fastest-growing, under-penetrated ice cream markets. It combines TMICC’s global brand strength, and innovation capabilities, with KWIL’s strong local heritage, manufacturing footprint, and extensive distribution network across India. With TMICC’s global expertise and the strong local management team in India, we are confident of accelerating category growth and building a future-ready business that continues to create value for consumers and shareholders.”
A mandatory tender offer, made in accordance with applicable Indian laws, is currently underway and it is expected to conclude within the next 4–6 months. If, pursuant to the tender offer, TMICC’s shareholding in KWIL exceeds 75%, TMICC will be required to reduce its shareholding to not more than 75% within one year, in order to comply with the minimum public shareholding requirements.
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