General Mills said on Monday it has agreed to sell its Haagen-Dazs ice-cream shops in mainland China to an investor group that includes Chinese tea chain operator Ningji, as the U.S. food company continues to reshape its portfolio.
As part of the deal, the buyer will receive an exclusive license to use the Haagen-Dazs brand for ice-cream shops and gifting business in mainland China, the Cheerios maker said without disclosing the financial terms.
Minneapolis, Minnesota-based General Mills will continue to own and operate Haagen-Dazs retail and foodservice operations in China outside the mainland.
Reuters
