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CNBC's Jim Cramer on Thursday explained why he's fairly positive on Magnum Ice Cream Company , which made its Wall Street debut earlier this week after spinning off from consumer giant Unilever .

"We finally, by the grace of God — or at least, the grace of Unilever — have a pure play ice cream stock, now that The Magnum Ice Cream Company has been spun off and started trading independently," he said. "And, after taking a closer look at the story, I have to say, this one's pretty sweet."

Magnum Ice Cream might fare better as an independent company than as part of a giant conglomerate, Cramer suggested. He noted that the company struggled for a while under Unilever but said business has picked up since the des

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