Latest updates in the realm of private equity this week
Unilever, the British-Dutch multinational consumer goods company, has announced plans for a spin-off initial public offering (IPO) of its global ice cream division, which includes beloved brands like Ben & Jerry’s, Magnum, and Breyers. The company aims to list the new entity later in 2025 [1][4].
The strategic shift comes as Unilever looks to focus on its core areas of beauty and health care products, moving away from the traditionally reliable but lower-margin ice cream category [1]. The spin-off is expected to create a leaner Unilever, allowing it to channel growth investments into sectors with higher growth potential.
The global ice cream business, despite the planned separation, will continue to hold a significant 20% market share [1][4]. Unilever has recently sold smaller ice cream assets, such as its Venezuelan operations, as part of refining its portfolio ahead of the spin-off [3].
The new entity, known as "Magnum Ice Cream Company HoldCo 1," is preparing for equity shareholder meetings linked with the separation process [2]. Post-spin-off, the ice cream division will maintain its established brand presence globally but may adjust manufacturing and distribution strategies regionally.
Meanwhile, in the beauty industry, Huda Beauty, the cosmetics brand founded in 2013, has announced the sale of its fragrance brand, KAYALI. The luxury fragrance brand, founded in 2018 by Mona Kattan under the Huda Beauty umbrella, has quickly established itself as a powerhouse in the fragrance industry. The sale marks a rare milestone in the beauty industry [5].
Co-founder Mona Kattan and private equity firm General Atlantic are buying Huda Beauty's fragrance brand, KAYALI. KAYALI is celebrated for its bold scent layering philosophy. The sale paves the way for Huda Beauty to regain full founder ownership [5].
In the world of gastronomy, Gordon Ramsay has merged his UK and US restaurant businesses into a single global entity. The newly unified company, Gordon Ramsay Restaurants, will be co-owned by Ramsay and Lion Capital, each holding a 50% stake. The merger brings fresh private equity backing from Lion Capital to drive international expansion [6].
The restructuring will consolidate all of Ramsay's restaurant operations under Gordon Ramsay Restaurants, creating a unified platform for growth and expansion. The new entity will have its own executive management team and board of directors based in London.
As of July 2025, the exact details on the IPO location(s) (Amsterdam, London, New York) and valuation for Unilever's ice cream division have not been publicly disclosed. The spin-off IPO is expected to be a significant event in the consumer goods and beauty industries, with potential ramifications for both Unilever and its competitors.
[1] Unilever announced plans for ice cream spin-off IPO (Reuters, July 2025) [2] Magnum Ice Cream Company HoldCo 1 prepares for equity shareholder meetings (Bloomberg, July 2025) [3] Unilever sells Venezuelan ice cream assets ahead of spin-off (Wall Street Journal, June 2025) [4] Unilever to focus on beauty and health after ice cream spin-off (CNN Business, July 2025) [5] Huda Beauty sells KAYALI fragrance brand (Forbes, July 2025) [6] Gordon Ramsay merges UK and US restaurant businesses (BBC News, June 2025)
- The spin-off of Unilever's ice cream division, which includes brands like Magnum and Breyers, is expected to create a private equity opportunity for investors, as the new entity, Magnum Ice Cream Company HoldCo 1, prepares for equity shareholder meetings.
- In the realm of entrepreneurship, Huda Beauty, the cosmetics brand, has made an investment decision to regain full founder ownership by selling its fragrance brand, KAYALI, to private equity firm General Atlantic, co-founder Mona Kattan.
- Meanwhile, in the world of finance, Gordon Ramsay, the celebrated chef, has announced a business restructure, merging his UK and US restaurant businesses into a single global entity, Gordon Ramsay Restaurants, with Lion Capital investing through private equity.
- The beauty industry has seen a significant event with Huda Beauty's sale of its fragrance brand, KAYALI, marking a rare milestone and possibly influencing future investment and business strategies.
- As Unilever focuses on its core areas of beauty and health care products and prepares for the IPO of its ice cream division later in 2025, the global real-estate of the ice cream business is poised to remain significant, holding a 20% market share.
