The US food group divests mainland China ice-cream shop operations to refocus on higher-return brands and channels.
General Mills has agreed to sell its Häagen-Dazs shop operations in mainland China to a consortium including QSR operator Ningji. The deal grants the buyer an exclusive license for the brand’s ice-cream shops and gifting business in the market, though financial terms remain undisclosed. The transaction is expected to close this year pending regulatory approvals.
The disposal aligns with General Mills’ strategy to streamline its portfolio toward brands with stronger growth potential. Since fiscal 2018, the company has reshaped nearly one-third of its net sales base through acquisitions and divestitures, including recent sales of its Brazil and US tomato-products businesses. General Mills will retain ownership of other Häagen-Dazs retail and foodservice operations in China.
Ningji, which operates over 3,000 quick-service tea shops in China, will take over the shop network. The move follows General Mills’ broader cost-cutting efforts, including plans to close three US facilities by fiscal 2029.