Kwality Wall's opens a new RD&I Centre in Bengaluru, strengthening innovation for brands like Magnum and Cornetto. This 13,000 sq ft facility will accelerate product and packaging development, focusing on Indian consumer tastes and market conditions.
An open offer for 26% of Kwality Wall's shares at ₹21.33 per share is underway. The acquirer has deposited ₹1303.04 Cr and completed acquiring 61.90% of shares, securing control. New directors have been appointed to the board.
Kwality Wall's (India) Limited has received an open offer from The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. to acquire up to 26% of its voting share capital at ₹21.33 per share. The underlying transaction for acquiring 61.90% shares has been completed.
The Magnum Ice Cream Company has completed a majority acquisition (61.9%) of Kwality Wall's (India) Limited. This move strengthens TMICC's presence in India's ice cream market, combining global brands with local distribution.
Kwality Wall's India reports a change in promoter status. The Magnum Ice Cream Company acquired 61.90% stake, becoming the new promoter. Outgoing promoters, Unilever entities, have been reclassified to public shareholders.
