Story perspectives

Ningji Leads Consortium to Acquire Haagen-Dazs China Stores

6/3/2026

Summary

Story summary

Ningji, a Chinese tea chain, joins the investor group buying Haagen-Dazs stores in China.
General Mills will sell exclusive rights to operate Haagen-Dazs ice-cream and gifting shops to Ningji-led consortium, retain ownership of retail and food-service channels, and close the deal in 2026.
The transaction supports General Mills’ accelerate strategy, with Haagen-Dazs, despite dropping to 262 stores from over 550 in 2019, remaining China’s third-largest food-service ice-cream brand in 2025.

History

Historical Context

Founded in 1961, Häagen-Dazs grew into a super-premium brand and was sold to Pillsbury for $70 million in 1983. When General Mills bought Pillsbury in 2001, it inherited worldwide rights and expanded the brand’s global retail presence. Chinese investors now seek exclusive retail rights in China, echoing General Mills’ earlier expansion strategy.

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Story summary

Ningji, a Chinese tea chain, joins the investor group buying Haagen-Dazs stores in China.
General Mills will sell exclusive rights to operate Haagen-Dazs ice-cream and gifting shops to Ningji-led consortium, retain ownership of retail and food-service channels, and close the deal in 2026.
The transaction supports General Mills’ accelerate strategy, with Haagen-Dazs, despite dropping to 262 stores from over 550 in 2019, remaining China’s third-largest food-service ice-cream brand in 2025.

1 / 2