General Mills, Inc. (GIS), a maker of branded consumer foods, said that it has inked a deal to sell its HagenDazs shops in Mainland China to an investor group including Ningji, a Chinese operator of tea brands with a network of premium quick-service retail tea shops.
Under the terms, the buyer will receive an exclusive license from General Mills to use the Hagen-Dazs brand in ice cream shops and gifting business in Mainland China.
Post-transaction, General Mills will continue to own and operate the Hagen-Dazs retail and foodservice operations in the country.
"The transaction aligns with General Mills' Aacelerate strategy and elevates the company's focus on its brands and channels that provide the strongest opportunities for profitable growth," the company said.
The financial terms of the transaction, expected to be closed in 2026, were not disclosed.
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