Private‑equity heavyweights Blackstone and Clayton, Dubilier & Rice are circling a potential take‑private of Magnum Ice Cream Company, Reuters said. Both firms are waiting on the summer sales report, the period that generates most of Magnum’s revenue, before shaping offers. Shares jumped nearly 16% after the news, marking the stock’s biggest single‑day rise since its debut, as investors reassess the undervalued equity in Europe.

Magnum listed on Dec. 8 with a market value of roughly €7.8bn, well under the €10.8bn analysts had pencilled in before the IPO. The stock now trades around €13, close to its opening price, after peaking at €16.50 earlier in the year. Unilever still holds a 19.9% stake and plans a full exit within five years.

With roughly 21% of the $87bn global ice‑cream market, Magnum outpaces rival Froneri’s 11% share, yet Froneri’s recent financing valued it at €15bn—almost double Magnum’s current valuation. Sponsors see a turnaround path via cost cuts and margin expansion, narrowing the performance gap. The deal could reshape the premium ice‑cream segment, giving buyers a platform to leverage brand strength and distribution.