According to media reports, Blackstone Group and Clayton, Dubilier & Rice are exploring potential bids for Cornetto and Ben & Jerry's, the parent company of Magnum Ice Cream Co BV/The. Both firms are currently in the early stages of evaluation, while other private equity companies have also shown interest in the potential transaction. Sources indicate that these private equity firms are closely monitoring the stock price movement before deciding whether to formally proceed.

Public information shows that Magnum is a global ice cream business that was spun off and independently listed by Unilever in December 2025. Its brand portfolio includes Magnum, Klondike, and Wall's. Following a nearly two-year complex spin-off process, Unilever still retains a 19.9% stake in Magnum Ice Cream and has publicly stated its intention to fully exit this investment within the next five years.

Magnum reported its first-quarter results in April, with quarterly revenue reaching 1.77 billion euros, reversing the significant underperformance of the previous quarter. The company aims to achieve revenue growth and improved profitability, projecting 3%–5% organic sales growth for 2026 and an expected increase of 40 to 60 basis points in its adjusted EBITDA margin.

Related negotiations are anticipated to continue into the third quarter, as potential buyers await the release of Magnum Ice Cream's critical summer sales data. Sources note that since the company generates the majority of its revenue during the summer season, this data is crucial for valuation purposes. This potential acquisition could offer buyers significant value-creation opportunities, including enhancing returns through aggressive cost-cutting measures and margin expansion.

Currently, Magnum Ice Cream holds a 21% share of the global ice cream market, valued at approximately $87 billion, leading its competitor Froneri.