LONDON (Reuters) -Unilever expects the Magnum-led ice cream unit it is spinning off to see average annual organic sales growth of 3-5% in the medium-term from 2026, the company said ahead of a capital markets day on Tuesday.
Unilever expects the Magnum Ice Cream Company, which it is spinning off in mid-November, to command just over a fifth of the around $88 billion global ice cream market and compete with rivals such as Nestle-backed Froneri.
The ice cream spin-off, which will see Unilever hold on to a sub-20% stake, presents a crucial test for CEO Fernando Fernandez as he looks to shake up the giant consumer goods firm, streamline management and boost margins.
(Reporting by Alexander Marrow and Dimitri Rhodes; Editing by Kirsten Donovan)
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