Magnum Ice Cream to set up ₹900 crore GCC in Pune, regional HQ in Mumbai

The Magnum Ice Cream Company, the standalone ice cream business spun out of Unilever, is investing ₹900 crore to establish a Global Capability Centre (GCC) in Pune and a regional headquarters in Mumbai.

The investment plans were disclosed after a meeting between Maharashtra Chief Minister Devendra Fadnavis and Magnum Ice Cream Company Chief Executive Peter ter Kulve in Mumbai.

"It was an absolute delight to meet the CEO of the Magnum Ice Cream Company, Peter ter Kulve in Mumbai today," Fadnavis said in a post on X on Thursday.

He said discussions focussed on establishing the Mumbai headquarters for the company's Middle East, Turkey and South Asia (METSA) operations, growth plans for India and progress on the development of the GCC.

The development follows a memorandum of understanding signed between the Maharashtra government and the company in 2025.

Under the plan, Pune will host the company's first GCC in India, supporting global operations in supply-chain optimisation, artificial intelligence-led logistics, finance analytics and digital operations. Mumbai will serve as the regional headquarters for its METSA business.

The Magnum Ice Cream Company was carved out of Unilever's global ice cream portfolio, which includes brands such as Magnum, Wall's and Ben & Jerry's.

The expansion comes as its Indian business, Kwality Wall's (India) Limited, reported a net loss of ₹368.8 crore for the 14-and-a-half-month period from its incorporation on January 10, 2025 through March 31, 2026.

The company reported revenue from operations of ₹2,200 crore during the period, which covers its first full financial year as a listed entity.

The Magnum Ice Cream Company completed the acquisition of a 61.9% stake in Kwality Wall's (India) from Unilever on March 31, 2026, under a share purchase agreement signed in June 2025.

It has also launched a mandatory open offer to acquire an additional 26% stake from public shareholders at ₹21.33 per share.

The company is simultaneously ramping up its distribution infrastructure in India, deploying nearly 50,000 deep-freeze retail cabinets and expanding partnerships with quick-commerce platforms Blinkit, Zepto and Instamart.

Kwality Wall's holds about 11-14% of India's organised ice cream market by value, while Magnum commands more than 35-40% of the super-premium impulse-stick segment, reported businessline, citing industry estimates.