General Mills Sells Haagen-Dazs Operations in Mainland China

General Mills announced on Monday a strategic sale of its Haagen-Dazs ice-cream shops in mainland China to an investor consortium featuring local tea chain operator Ningji.

The decision aligns with the company's aim to concentrate on higher profit growth businesses, as international consumer brands encounter intensified competition and cost-sensitive buyers in China.

Meanwhile, the Minneapolis-based company will continue operating Haagen-Dazs outside mainland China, even as global inflation and dietary shifts challenge the packaged food sector.

(With inputs from agencies.)