Who owns Cornetto now?

Cornetto is owned by The Magnum Ice Cream Company (TMICC), which was demerged from Unilever in December 2025. TMICC is a standalone, publicly listed company traded on Euronext Amsterdam, the London Stock Exchange, and the New York Stock Exchange under the ticker MICC. Unilever retained a minority stake of less than 20%.

When was Cornetto invented?

Cornetto was invented in 1959 by Spica, an ice cream company based in Naples, Italy. The key innovation was coating the inside of the wafer cone with chocolate to prevent it from becoming soggy. The name "Cornetto" is Italian for "little horn," referring to the cone's shape.

Is Cornetto the same as Wall's?

Cornetto is a product brand that is often marketed under the Wall's brand name in the UK and parts of Asia. In Italy, it is sold under the Algida brand. In Australia, it is sold under the Streets brand. Despite the different parent brand names, the Cornetto product itself is consistent across markets.

Why did Unilever spin off its ice cream business?

Unilever announced plans to separate its ice cream business in 2024. The ice cream division's cold supply chain offered few synergies with Unilever's other food and personal care products. The demerger created a focused, independent ice cream company that can pursue its own strategy and capital allocation priorities.

What flavors does Cornetto come in?

Cornetto is available in several flavors including vanilla (Classico), chocolate, strawberry, and hazelnut. The brand also offers limited-edition and region-specific flavors. Variations include Cornetto Enigma, Cornetto King Cone, and Cornetto Discs, depending on the market.

TMICC presented its medium-term outlook at its Capital Markets Day in September 2025. As a standalone company, TMICC benefits from focused management and the ability to optimize its cold chain operations independently. However, specific post-demerger financial results will be reported in the company's first independent annual report.

Food & Beverage

Who Owns Cornetto?

Cornetto is an ice cream cone brand owned by The Magnum Ice Cream Company (TMICC), which was demerged from Unilever in December 2025. The brand was invented in 1959 by Spica, an Italian ice cream company based in Naples. Cornetto is known for its chocolate-insulated wafer cone and is sold in over 40 countries. TMICC is publicly listed on Euronext Amsterdam, the LSE, and the NYSE under the ticker MICC.

Parent Company

Unilever plc

Acquired

2025

Status

Publicly Traded

Headquarters

Amsterdam, Netherlands

Cornetto Timeline

1929

Unilever plc

Parent company established in London, England, United Kingdom

Company Founded

1959

Cornetto

Founded by Spica

Founded

2025

Acquired by Unilever plc

Unilever plc acquired Cornetto

Acquired

mid rangemass marketUnited KingdomOfficial Website

Who Owns Cornetto?

Parent Company: Unilever plc
Ownership Type: Wholly owned
Acquisition Year: 2025
Company Type: Publicly Traded
Stock Ticker: LSE: ULVR

Brand	Parent Company	Ownership Type
Cornetto	Unilever plc	Wholly owned

Where to Buy

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Cornetto on Amazon

History of Cornetto

Founded: 1959
Founders: Spica
Acquired by Unilever plc: 2025

Cornetto was invented in 1959 by Spica, an ice cream manufacturer based in Naples, Italy. The name "Cornetto" is Italian for "little horn," referring to the cone's shape. Spica's key innovation was developing a process to coat the inside of the wafer cone with a layer of chocolate. This created a barrier that prevented the ice cream from making the cone soggy, a common problem with earlier ice cream cone products.

The chocolate-insulated cone was a practical breakthrough. Before Cornetto, ice cream cones typically became soft and messy as the ice cream melted into the wafer. Spica's solution allowed the cone to remain crisp throughout the eating experience. The brand also added a chocolate disc at the bottom of the cone to seal it and prevent leaks.

Spica registered the Cornetto brand in Italy and began selling the product domestically. The brand gained popularity in Italian ice cream markets and attracted the attention of larger food companies. Unilever acquired Spica and brought Cornetto into its Wall's ice cream portfolio, which already had strong distribution networks across Europe and Asia.

Under Unilever ownership, Cornetto expanded rapidly. The brand was marketed under different names in various markets. In the UK and parts of Asia, it was sold under the Wall's brand. In Italy and parts of Europe, it retained the Cornetto name. In Australia, it was sold under the Streets brand. Despite the different parent brand names, the Cornetto product remained consistent across markets.

Cornetto became particularly popular in the UK, where it was marketed as a premium ice cream cone option. The brand ran memorable advertising campaigns, including the "Just One Cornetto" slogan, which parodied the aria "O Sole Mio" and became a cultural reference point in British advertising during the 1980s and 1990s.

Over the decades, Cornetto introduced flavor variations including chocolate, strawberry, hazelnut, and limited-edition flavors tailored to local markets. The brand also experimented with different sizes and formats, including Cornetto Classico, Cornetto Enigma, and Cornetto King Cone.

In 2024, Unilever announced plans to separate its ice cream business. The separation was completed through a demerger on December 6, 2025, creating The Magnum Ice Cream Company. Cornetto, along with Magnum, Ben & Jerry's, Wall's, and other ice cream brands, became part of the newly independent company. TMICC hosted its first Capital Markets Day on September 9, 2025, presenting its strategy as a standalone business.

About Unilever plc

What does Unilever own?
As of April 2026, Unilever owns a portfolio of over 400 brands across four business groups: Beauty and Wellbeing (Dove, Vaseline, TRESemme, Pond's), Personal Care (Axe/Lynx, Rexona/Sure, Lux, Lifebuoy, Close Up), Home Care (Domestos, Cif, Surf, Omo, Comfort), and Nutrition (Knorr, Hellmann's, pending transfer to McCormick upon deal close). Unilever no longer owns ice cream brands (Magnum, Walls, Ben & Jerry's, Breyers) following the 2025 Ice Cream demerger. The March 31, 2026 McCormick combination, expected to close mid-2027, will transfer Hellmann's, Knorr, Frank's RedHot, French's, Cholula, and Maille to the expanded McCormick entity. The company also owns approximately 61% of Hindustan Unilever Limited, a publicly listed subsidiary in India.

Is Unilever publicly traded?
Yes, Unilever plc is listed on the London Stock Exchange under ticker ULVR and on Euronext Amsterdam under ticker UNA. American Depositary Receipts are listed on the New York Stock Exchange under ticker UL. The company does not have a controlling shareholder, and its shares are held primarily by institutional investors. Unilever simplified its dual-listed structure in 2020, consolidating its legal headquarters in the United Kingdom.

Who founded Unilever?
Unilever was formed in 1929 through the merger of Lever Brothers, a British soap company founded by William Hesketh Lever in 1885, and Margarine Unie, a Dutch margarine producer formed through the merger of the Jurgens and Van den Bergh companies in 1927. The founders of the predecessor companies include William Lever, James Darcy Lever, Antonius Johannes Jurgens, and Samuel van den Bergh.

Where is Unilever headquartered?
Unilever is headquartered in London, United Kingdom. The company's registered office and principal executive offices are located in London. Unilever simplified its dual-listed structure in 2020, consolidating its legal headquarters in the United Kingdom and ending the separate Unilever N.V. Dutch entity. The company's shares continue to trade on both the London Stock Exchange and Euronext Amsterdam.

How many brands does Unilever own?
Unilever currently owns over 400 brands across Beauty and Wellbeing, Personal Care, Home Care, and Nutrition. Following the completion of the McCormick Foods combination (expected mid-2027), Unilever's portfolio will narrow to its HPC brands, with the largest being Dove, Axe/Lynx, Rexona/Sure, Vaseline, Domestos, Cif, Surf, and Omo. The company's food brands (Hellmann's, Knorr) are included in the McCormick deal and will transfer upon close.

Who owns Unilever?
Unilever plc is a publicly traded company with no controlling shareholder. The company's shares are held primarily by institutional investors including major asset managers and index funds. No single shareholder holds a majority stake in Unilever. Fernando Fernandez serves as CEO, having been appointed in March 2025 following the departure of Hein Schumacher. The company's board includes a majority of independent non-executive directors.

Founded: 1929
Headquarters: London, England, United Kingdom
Company Type: Publicly Traded
Stock: LSE: ULVR
Revenue: approximately €59.7 billion (FY2025)
Employees: Approximately 128,000

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Where Is Cornetto Made / Based?

Headquarters: Amsterdam, Netherlands
Manufacturing / Operations: Italy, United Kingdom, Germany, Netherlands, Australia

Cornetto Categories & Tags

Ice Cream Frozen Dessert Cone Snack Dessert European Brand

Cornetto Ownership: Pros & Cons

Advantages

+Part of the world's largest standalone ice cream company
+Sold in over 40 countries with established distribution networks
+Strong brand recognition, particularly in the UK and Europe
+TMICC's focus on ice cream innovation could drive new product development
+Publicly traded parent company provides financial transparency

Considerations

-TMICC is a newly independent company with limited operational track record
-Health trends toward reduced sugar consumption pose challenges
-Faces competition from both premium and budget ice cream segments
-Unilever's retained minority stake creates some ownership complexity
-Brand is marketed under different names (Wall's, Streets, Algida) across markets, which can dilute global brand equity

Frequently Asked Questions About Cornetto

Sources & Further Reading

Competitors to Cornetto

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
Ben & Jerry's	The Magnum Ice Cream Company	USA	1978	Premium	Global	All-ages
Dreyer's	Nestle	United Kingdom (Froneri)	1928	Mass market	United states	All Genders
BreyersSister Brand	The Magnum Ice Cream Company	United States	1866	Mass market	United states	All Genders