A significant restructuring of Unilever’s global operations is set to impact the Philippine ice cream market by November 2025, with the final shape of the company’s ice cream business expected to be announced, according to Joseph Fabul, head of communications and corporate affairs at Unilever Philippines.
Unilever is in the process of spinning off its ice cream division, which includes brands such as Selecta, Magnum and Ben & Jerry’s into a new standalone company tentatively named “Magnum Ice Cream Company.”
Fabul said the decision to separate the ice cream business from Unilever’s home and personal care products stemmed from operational inefficiencies.
“It’s not because the ice cream business is underperforming. In fact, it’s doing very well,” Fabul said during an informal lunch with media on Monday.
“But it’s fundamentally different—different factories, different logistics, cold storage, even the supply chain. The move allows both Unilever and the ice cream business to grow faster and operate more efficiently,” he said.
The global demerger is expected to directly affect Unilever RFM Ice Cream Corp., a joint venture between Unilever and the Concepcion-led RFM Corp., which acquired the Selecta brand in the Philippines in 1990.
However, Fabul noted that the precise implications for Philippine operations remain uncertain for now. “What happens to the joint venture will depend on the final structure of the global spinoff. We’ll have more clarity by November,” he said.
He said several options are being considered at the global level, including a potential initial public offering (IPO), a private equity sale or a divestment to another company.
Despite the uncertainty, Fabul assured that Selecta, which holds at least 50-percent of the local market and is the country’s leading ice cream brand, is here to stay. He highlighted the Concepcion’s confidence in the local ice cream business.
Unilever previously informed its partners about the global demerger. While local adjustments may follow, the overall outlook for the Philippine market remains positive. “The strategy is to make both organizations more agile and responsive to their respective markets. Ice cream has a lot of growth potential, and this move positions it to take full advantage of that,” Fabul said.
