General Mills is exploring a separation of its Häagen-Dazs ice cream business outside North America, a move that could lead to a sale. The Wall Street Journal first reported the review, citing people familiar with the matter. The evaluation is at an early stage, and General Mills may decide to retain the business.
General Mills owns and operates the brand in more than 90 countries across Europe, Asia and other international markets. In the U.S. and Canada, Froneri operates Häagen-Dazs. Froneri is a joint venture co-owned by Nestlé.
Sources say Froneri could be a logical buyer for the international operations if General Mills sells them. The review follows General Mills’ sale of its Häagen-Dazs shop business in mainland China earlier this year.