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Unilever has reaffirmed plans to complete the demerger of its Magnum Ice Cream Company by the end of 2025, despite a delay linked to the ongoing US federal government shutdown.

In a statement released on 23 October, the company said that all preparatory work remains 'on track and progressing well,' with the company 'committed to and confident of' implementing the demerger in 2025. "We will provide further updates on the revised timetable as soon as practicable," Unilever's statement reads.

Following the demerger, Unilever will retain a 19.9% stake in the newly independent TMICC (The Magnum Ice Cream Company) for up to five years. The company said this holding will be gradually reduced 'in an orderly and considered manner' to fund separation costs and maintain capital flexibility through lower net debt.

Unilever expects to report the Ice Cream Business Group as a discontinued operation from the fourth quarter of 2025. The move forms part of the F&B giant's wider portfolio reshaping strategy, designed to sharpen its focus on core brands and drive stronger growth. By separating its ice cream arm, Unilever said it aims to improve operational efficiency and unlock shareholder value.

TMICC is expected to pursue secondary listings in Amsterdam and London, alongside its planned New York listing, positioning it for international growth as a standalone business.