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Unilever’s spun off ice-cream arm Magnum to set up $100 mn GCC in Pune
Magnum's India headquarters will double up as the ice cream company's regional headquarters for the Middle East, Turkey, and South Asia
Unilever’s recently demerged ice cream business, the Netherlands-based Magnum Ice Cream Co., is set to open its first global capability center (GCC) in Pune, with an investment of $100 million, the company said.
The ice cream firm signed a memorandum of understanding with the government of Maharashtra at the India Global Forum (IGF) NXT25 summit held in Mumbai this week.
The Indian headquarters will serve as the company’s regional headquarters for the Middle East, Turkey, and South Asia, the company said, adding that the GCC is expected to create more than 1,000 high-profile jobs.
Magnum global chief financial officer Abhijit Bhattacharya, Magnum India business CFO Prashant Premrajka, and India business CEO Toloy Tanridagl joined Maharashtra chief minister Devendra Fadnavis to announce the deal.
This latest announcement underscores Maharashtra’s growing appeal as a destination for global capability hubs and aligns with Unilever’s strategy to expand its ice cream business globally, a statement said.
Magnum was a part of Unilever since its launch in 1989 by Frisko, a Unilever-owned firm in Denmark.
The Unilever board, in March last year, decided to separate the global consumer goods company’s ice cream business, explaining that the unit had distinct characteristics as compared with its other businesses.
The separation is expected to be completed by the end of 2025.
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