Demonstrating its long-term commitment to India, The Magnum Ice Cream Company is investing Rs 900 crore to establish a Global Capability Centre (GCC) in Pune and a regional headquarters in Mumbai, even as its India business continues to navigate financial challenges following its separation from Hindustan Unilever.
The investment follows a Memorandum of Understanding (MoU) signed with the Maharashtra government at the India Global Forum NXT25 Summit in April 2025. Under the agreement, Mumbai will serve as the regional headquarters for Magnum’s Middle East, Turkey, and South Asia operations, while the Pune GCC is expected to create more than 500 direct jobs by 2029.
Maharashtra Chief Minister Devendra Fadnavis recently met Magnum CEO Peter ter Kulve in Mumbai to review the progress of the company’s planned investments in the state. The MoU signing was also attended by Abhijit Bhattacharya, Global CFO of The Magnum Ice Cream Company, Toloy Tanridagli, India CEO, and senior government officials.
The expansion comes as Kwality Wall’s (India) Limited, the company’s India vehicle established on January 10, 2025, reported revenue from operations of Rs 2,200 crore and a net loss of Rs 368.8 crore for the 14.5-month period ending March 31, 2026. The losses were attributed to transition-related costs, exceptional items including asset impairments, and rising commodity prices, particularly cocoa. However, strong double-digit growth in quick-commerce sales supported premium product adoption and new consumption opportunities.
The Magnum Ice Cream Company was carved out from Unilever’s global ice cream portfolio, which includes brands such as Wall’s, Magnum, and Ben & Jerry’s. On March 31, 2026, the company completed the acquisition of a 61.9% equity stake in Kwality Wall’s (India) Limited from Unilever and subsequently launched a mandatory open offer for an additional 26% stake at Rs 21.33 per share.
The upcoming Pune GCC will provide centralized services across information technology, supply chain management, finance, human resources, and data analytics for Magnum’s global operations. Abhishek Mendiratta, appointed Director and GCC Centre Head in December 2025, will lead the centre’s operations and support the company’s global transformation strategy.
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