Kwality Wall’s (India) Ltd has announced that Magnum Ice Cream Company Holdco 1 Netherlands B.V. has acquired a 61.9% stake in the company, marking a significant change in ownership.
The acquisition was completed through the purchase of 145.44 crore shares from existing promoters, including Unilever PLC and its group entities, under a Share Purchase Agreement signed in June 2025.
Following the transaction, Magnum Ice Cream Netherlands has assumed control of Kwality Wall’s India and has been officially classified as the new promoter. The previous promoters have been reclassified under the public shareholder category.
The company’s board, in its meeting held on March 30, also approved key leadership changes. Abhijit Bhattacharya has been appointed as Chairperson and Additional Director, while Tahir Toloy Tanridagli has joined as an Additional Director. Meanwhile, Ritesh Tiwari has stepped down from his role as Additional Director with effect from the conclusion of the meeting.
The board took note of the share transfer, reclassification of promoters, and new appointments as part of the transition process.