On June 2, the American food company General Mills announced that it will sell its physical Häagen-Dazs ice cream stores and gift business to a consortium of local investors in China. The sale involves the operational rights of the stores in China, not the brand itself.
According to reports by mainland Chinese media outlets such as “Financial Magazine” on June 4, General Mills has reached an agreement with an investor group including Ning Ji, to authorize the Häagen-Dazs store business in mainland China to the consortium. The acquiring party will have exclusive permission from General Mills to use the Häagen-Dazs brand in the ice cream store and gift business in mainland China. General Mills will continue to own and operate Häagen-Dazs’ retail and dining business in China. The transaction is expected to be completed within the year 2026, and the financial terms of the deal have not been disclosed.
On May 28, there were market rumors that the Chinese lemon tea chain brand Ning Ji was in talks to purchase the Häagen-Dazs store business in China, as reported by “Daily Economic News” on May 31.
Rumors about the sale of Häagen-Dazs’ store business in China began circulating as early as 2025. On November 13 of the same year, General Mills responded to inquiries about the potential sale by stating “no comment” regarding whether Häagen-Dazs’ Chinese business was up for sale.
Regarding General Mills selling the operational rights of Häagen-Dazs in China, “Financial Magazine” believes that as Häagen-Dazs’ business in China has been declining significantly, General Mills intends to “let go” of it.
In the past seven years, the total number of Häagen-Dazs stores in China has drastically decreased from 557 in 2019 to just over 200 now, as reported by industry media “Snack World.” There has been a wave of store closures for Häagen-Dazs outlets across many regions.
In response to this trend, consumer industry analyst Yang Huaiyu analyzes that this move represents a typical strategy of lightening assets by divesting in heavy operational, low-margin offline stores, and focusing on high-profit retail and dining channels.
The sale of international renowned brands to local Chinese enterprises in China is not a new occurrence. In December 2025, Starbucks announced the sale of up to 60% of its shares to the local Chinese firm, Boyu Capital, transitioning to a joint venture operation. McDonald’s has also sold its business in China.
Public data indicates that Häagen-Dazs, a brand under General Mills, is primarily engaged in the ice cream business, offering flavors such as vanilla, strawberry, and matcha. Established in 1961, the headquarters of Häagen-Dazs is located in the United States.
On the other hand, Ning Ji, the handcrafted lemon tea brand, originates from Hunan Province in China.