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Private equity firms including Blackstone and Clayton, Dubilier & Rice are exploring potential bids for The Magnum Ice Cream Company, according to a Reuters report citing sources familiar with the matter.

The firms are understood to be in the early stages of assessing a possible move, with discussions said to be focused on monitoring Magnum’s share price performance before deciding whether to proceed.

Magnum, which owns brands including Magnum, Cornetto and Ben & Jerry's, was spun out of Unilever less than six months ago and listed in December 2025 at a valuation of around €7.8 billion.

Unilever still retains a 19.9% stake in Magnum and plans to exit its holding within five years.

According to Reuters, private equity firms are expected to wait until after Magnum reports its summer sales performance before deciding whether to pursue a bid, as the company generates a significant portion of its revenue during the warmer months. Sources also told Reuters that other buyout firms are monitoring the business.

FoodBev has contacted CD&R for comment, while Blackstone declined to comment.