General Mills is selling its Häagen-Dazs ice cream stores in mainland China. That group of investors includes Ningji, a Chinese company that operates thousands of fast-food tea beverage retail stores. The investors will receive an exclusive license from General Mills to operate ice cream shops and giftware businesses in China using the Häagen-Dazs brand.
General Mills said it will continue to operate Haagen-Dazs' retail and food service businesses in China.
The proposed transaction is expected to close this year. Financial terms were not disclosed.
General Mills said the deal is consistent with its strategy to focus its product portfolio on high-growth opportunities.