Magnum Ice Cream acquires 62% stake in Kwality Wall's

Netherlands-based Magnum Ice Cream Company has completed its acquisition of a 61.9% majority stake in frozen dessert brand Kwality Wall's. The deal transfers promoter control to Magnum Ice Cream from the Unilever group. "The transaction combines [Magnum's] global brand strength and innovation capabilities with [Kwality Wall's] strong local heritage," Magnum Ice Cream CFO Abhijit Bhattacharya said.