Magnum Nets Majority Stake in Kwality Wall's India

Magnum Ice Cream Netherlands has acquired a 61.9% majority stake in Kwality Wall's India, transitioning from outgoing promoter Unilever, under a Share Purchase Agreement. This acquisition reclassifies promoters and appoints Abhijit Bhattacharya as an additional director and chairman, following Ritesh Tiwari's resignation.

Magnum Ice Cream Netherlands has completed its acquisition of a 61.9% majority stake in Kwality Wall's India Ltd, reshaping the company's leadership structure. The acquisition, formalized in a deal with Unilever PLC, marks a significant shift in the company's promoter classification.

This transition, effective as of March 30, 2026, follows the Share Purchase Agreement signed on June 25, 2025. As part of the agreement, Magnum secured 145.44 crore equity shares, gaining decisive control over the company.

In leadership news, Abhijit Bhattacharya has been appointed as the new additional (Non-Executive and Non-Independent) Director and Chairman of the Board, succeeding Ritesh Tiwari, who has resigned from his position.

(With inputs from agencies.)