General Mills Divests Haagen-Dazs Shops in China

In a strategic move, General Mills announced on Monday an agreement to sell its Haagen-Dazs shops in mainland China to an investor group. This group includes Ningji, a known Chinese tea chain operator. The U.S.-based food giant aims to realign its business portfolio through this sale.

The agreement grants the buyer exclusive licensing rights for the Haagen-Dazs brand, covering its use in ice-cream retail and gifting businesses within mainland China. Despite the shift, General Mills will continue its retail and foodservice operations related to Haagen-Dazs in other parts of China.

While the financial terms of the deal have not been publicly disclosed, this transaction signifies General Mills' continuing efforts to focus on strategic reshaping of its operations, maintaining control over its brand beyond the mainland. The company, headquartered in Minneapolis, Minnesota, highlights its ongoing commitment to Haagen-Dazs' global market presence.

(With inputs from agencies.)