General Mills Considers Selling Haagen-Dazs Stores in China

Amid financial restructuring, General Mills is contemplating the sale of its Haagen-Dazs ice-cream stores in China, as reported by Bloomberg News. The potential sale could begin this year, aiming to fetch several hundred million dollars.

The discussion phase is preliminary, and there's no certainty it will proceed. Regardless, the company plans to maintain its Haagen-Dazs sales in Chinese supermarkets and convenience stores, according to sources familiar with the matter.

This move comes as General Mills navigates restructuring efforts expected to cost around $130 million, concluding by 2028. This is part of a broader response to inflation-driven demand slowdowns for essential groceries, impacting major food brands like McCormick and Conagra.

(With inputs from agencies.)