The Competition Authority (AdC) decided not to oppose the merger operation involving the purchase of control of UL Ice Cream Comercial by TMICC (The Magnum Ice Cream Company) from the Unilever group, it was announced.
The decision was taken this week, “as it is not likely to create significant obstacles to effective competition in the national market or in a substantial part of it”, says the AdC.
On December 3, TMICC notified the AdC of the purchase of control over UL Ice Cream Comercial, in an operation that concerns Unilever’s ice cream business.
The concentration operation consists of the acquisition, by TMICC, “of control over UL Ice Cream Commercial Lda., to which the ice cream marketing and sales activity of Unilever Fima, Lda. will be transferred, and, indirectly, the ice cream production activity of Fima Hello – Produtos Alimentares”, reads the information released today by the AdC.
TMICC is part of the Global Ice Cream Business of the Unilever group and operates as an autonomous unit, and this business is “currently controlled by Unilever and is in the process of total separation from Unilever’s other business groups (Global Split)”, indicates the AdC.
“As part of the Global Spin-Off, the Global Ice Cream Business will join a new listed entity to be incorporated in the Netherlands (Magnum Listco), which will be the parent company of TMICC, with the expectation that its shares will be admitted to trading in Amsterdam, London and New York in mid-December 2025”, according to Competition.
UL Ice Cream Comercial is the company to which Unilever Fima’s ice cream marketing and sales activity and, indirectly, Fima Hello’s ice cream production activity will be transferred.