MINNEAPOLIS — General Mills is reportedly considering the sale of its Häagen-Dazs ice cream store operations in China, potentially valuing the business at several hundred million dollars, according to sources cited by Bloomberg News.
While the U.S.-based food giant has not made a final decision, the talks are still in the early stages, and the company may ultimately decide against a sale. If it proceeds, the transaction process could begin later this year.
Despite the potential divestiture of its branded store network, General Mills plans to continue offering Häagen-Dazs ice cream through traditional retail outlets in China, including supermarkets and convenience stores.
This move comes amid a broader restructuring effort by General Mills, which recently announced a $70 million charge for the current quarter and total projected costs of $130 million by the end of fiscal 2028.
Packaged food companies, including General Mills, McCormick & Co., and Conagra Brands, are under increasing pressure as inflation continues to affect consumer spending habits. Even essential grocery items have seen demand slow, with shoppers seeking more affordable alternatives.
The Häagen-Dazs brand, known for its premium positioning in the latest ice cream franchise market, remains a globally recognized name despite shifts in ownership strategies. General Mills holds the brand rights in several markets, while Froneri, a joint venture between Nestlé and PAI Partners, manages it elsewhere.
Industry analysts view this potential sale as part of a trend in which multinational food companies are realigning their franchise portfolios, especially in regions where store operations demand significant investment but yield diminishing returns.
While details remain speculative, a sale of the China store business could offer a strategic opportunity for local investors or international franchise operators seeking to expand in Asia’s evolving dessert market—a sector that still holds promise for premium ice cream franchise opportunities.
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