General Mills mulls sale of China Haagen-Dazs stores, Bloomberg News reports

General Mills is considering selling its Haagen-Dazs ice-cream stores in China, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The US company may seek several hundred million dollars for the assets in a sale process that could begin this year, the report added.

The discussions are in early stages and the company may not pursue a sale, the report said, adding that General Mills intends to continue selling Haagen-Dazs in places such as supermarkets and convenience stores in China.

General Mills has been undergoing a restructuring and said last month that it would record a charge of about $70 million in its current quarter. The restructuring efforts, estimated at around $130 million, are expected to be completed by the end of its fiscal year 2028.

Packaged food companies including McCormick , General Mills and Conagra Brands have faced slowing demand as sticky inflation has compelled budget-conscious customers to hunt for value even for essential items such as groceries.

REUTERS