Trending Now - General Mills Divests Häagen-dazs Stores in China to Local Firm

WHO:

ABC News - General Mills, a Minneapolis-based company.

ABC News - Ningji, a Chinese tea brand, is part of the investor group purchasing the Häagen-Dazs shops.

ABC News - Yaling Jiang, an independent Chinese consumer analyst, provided insights on Häagen-Dazs' market position.

WHAT:

ABC News - General Mills is selling its Häagen-Dazs ice cream shops in mainland China.

ABC News - The deal allows the buyers to exclusively sell the Häagen-Dazs brand in ice cream shops and gifting businesses across mainland China.

ABC News - General Mills will continue to sell Häagen-Dazs ice cream to Chinese retail and food service operations.

ABC News - Financial terms of the deal were not disclosed.

ABC News - The deal is expected to close by the end of this year.

ABC News - General Mills operates 332 ice cream parlors worldwide.

WHERE:

ABC News - The transaction involves Häagen-Dazs shops in mainland China.

ABC News - Ningji operates around 3,000 retail tea outlets in China.

WHEN:

ABC News - The deal is expected to close by the end of this year.

WHY:

ABC News - Häagen-Dazs has been charging premium prices in China without delivering sufficient product value or cultural relevance, according to Yaling Jiang.

ABC News - Foreign businesses are shifting ownership of their operations toward Chinese investors due to stagnating consumer confidence and slowing economic growth in China.

HOW:

ABC News - The deal allows the investor group to exclusively sell Häagen-Dazs in specific business sectors in China.

ABC News - Starbucks formed a joint venture with Chinese private equity firm Boyu Capital, allowing Boyu to hold up to a 60% stake in its operations in China.

ABC News - Restaurant Brands International formed a joint venture with Chinese investment firm CPE to operate and expand the Burger King restaurant chain in China, with CPE investing about $350 million.

(UPDATED June 2, 2026 18:23 UTC)

General Mills is selling its Häagen-Dazs ice cream shops in mainland China, with the deal allowing an investor group that includes Ningji, a Chinese tea brand, to exclusively sell Häagen-Dazs in ice cream shops and gifting businesses across the region. Yaling Jiang, an independent Chinese consumer analyst, noted that Häagen-Dazs has struggled with premium pricing that hasn't resonated well with consumers, prompting foreign businesses to shift ownership to Chinese investors amid slowing economic growth. The transaction is expected to close by the end of this year, while General Mills will continue to supply Häagen-Dazs ice cream to retail and food service operations in China.