Nov 5 (Reuters) – Packaged foods maker General Mills is considering separating its ice cream brand Haagen-Dazs outside of North America, and the move could lead to a sale, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Consumer goods companies have been reshaping their portfolios in recent years to cope with higher raw material and transport costs, as well as a shift toward healthier eating trends due to the growing use of weight-loss drugs.
Here are some details:
• Ice cream company Froneri operates the Haagen-Dazs brand in the US, and that could make it a logical buyer for General Mills’ operations of the brand outside of North America, WSJ reported, citing one person familiar with the matter
• General Mills owns and operates the Haagen-Dazs brand outside of North America
• Private-equity firm PAI Partners and Nestle own a 50% stake each in Froneri
• In June, General Mills agreed to sell its Haagen-Dazs ice cream shops in mainland China to a group led by tea chain operator Ningji
• General Mills declined to comment on the WSJ story
(Reporting by Juveria Tabassum in Bengaluru; Editing by Leroy Leo)
