General Mills weighs divestment of Häagen-Dazs business

USA – General Mills has announced an the potential separation of its Häagen-Dazs ice cream business outside North America, in a move that could pave the way for a sale of the international operations.

According to Wall Street Journal, the review remains at an early stage, and the US-based food manufacturer has not made a final decision on whether to proceed with a separation or retain the business.

General Mills owns and operates Häagen-Dazs across international markets outside North America, including Europe, Thailand, Mexico and the United Arab Emirates.

The brand is a significant part of the company’s premium ice cream portfolio, with its international operations representing a potential strategic asset for prospective buyers.

Additional reporting cites Froneri as a possible buyer for the international Häagen-Dazs business. The ice cream manufacturer already operates the brand in the United States.

Froneri is jointly owned by private equity firm PAI Partners and Nestlé, with Abu Dhabi Investment Authority also holding an interest in the business.

The potential review follows a series of portfolio moves by General Mills as the company assesses its brand portfolio and international operations.

In June 2026, General Mills agreed to sell its Häagen-Dazs ice cream shop business in mainland China to an investment consortium led by Ningji, a tea chain operator.

The transaction marked a further change in the company’s approach to managing the brand in one of its key Asian markets.

The proposed sale of the mainland China shop business and the latest evaluation of its international ice cream operations suggest a broader reassessment of how General Mills manages Häagen-Dazs across different territories.

Nestlé in talks to sell ice cream units to Froneri 

Recently, Nestlé advanced negotiations to sell its remaining ice cream businesses in Asia, Canada, and parts of Latin America to Froneri.

The company confirmed the talks during its fourth-quarter results, stating the potential sale aligns with its plan to prioritize higher-growth categories, including coffee, petcare, nutrition, and food and snacks.  

Froneri, the Häagen-Dazs owner, is a joint venture established by Nestlé and European private equity firm PAI Partners. Nestlé currently holds a 50% stake in the business. 

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