Ningji Acquires Häagen-Dazs’ China Store Business: An Imported Premium Brand Sells Out to a New Chinese Tea-Drink Chain—Foreign Brands Successively Descend from Their Pedestals | Frontline Observation

On May 28, multiple media outlets reported that Ningji—a lemon-tea chain—was in negotiations with General Mills (Häagen-Dazs’ parent company) to acquire Häagen-Dazs’ entire store-based business in mainland China. On June 2, General Mills announced it had reached a definitive agreement with an investor group—including Ningji—to license its Häagen-Dazs store and gifting business in mainland China exclusively to that group. As part of the agreement, the licensee will obtain an exclusive license from General Mills to use the Häagen-Dazs brand for ice cream stores and gifting businesses across mainland China. General Mills will retain ownership and continue operating Häagen-Dazs’ retail and foodservice businesses in China. As early as August 2025, the Financial Times reported that Goldman Sachs planned to acquire Froneri—the ice cream producer holding regional rights to Häagen-Dazs in the U.S. and Europe—for €1.5 billion (approximately RMB 12 billion). Häagen-Dazs has long epitomized ‘premium-priced ice cream,’ with the Chinese market once accounting for over half of its global revenue. Yet even before news broke of Goldman Sachs’ proposed acquisition of Froneri, reports surfaced in June indicating General Mills was preparing to sell Häagen-Dazs’ entire store-based business in China. In recent years, domestic Chinese brands acquiring the China operations of international giants has emerged as a new consumer trend—though buyers have typically been industry titans or financial institutions. Examples include BYD and Anta, and more recently Boyu Capital’s acquisition of Starbucks China. Founded in 2021, Ningji’s move to acquire a premium ice cream brand that entered China three decades ago inevitably invites the label ‘a snake swallowing an elephant’—a perception driven by the stark contrast between the acquirer’s identity and scale. According to Narrow Gate Restaurant Data, Häagen-Dazs’ average transaction value stands at RMB 54.81, while Ningji’s is only RMB 14.86. However, Ningji currently operates approximately 1,800 stores, whereas Häagen-Dazs maintains just 262 stores in China. To understand Ningji’s rationale, one must first reassess Häagen-Dazs itself. A ‘Noble’ Brand That Has Changed Hands Repeatedly For decades, Häagen-Dazs has undergone repeated ownership changes. In 1921, nine-year-old Reuben Mattus immigrated to New York City with his family. It was the dawn of the Roaring Twenties—and New York, then the world’s most dazzling yet contradictory metropolis, became their new home. The Mattus family brought their fruit-ice business from Poland to this city of both splendor and shadows. The entire family were artisans of fruit sorbets; Reuben began selling from a pushcart on city streets as a child. Amid widening income inequality, the U.S. ice cream market was saturated with low-cost products, and even upscale restaurants refused to serve ‘agricultural goods.’ Mattus spent the first half of his life navigating cutthroat competition—but he never abandoned his dream of crafting top-tier ice cream, one so exceptional that even aristocrats would rush to savor it. In 1961, Mattus registered the brand name ‘Häagen-Dazs’—a made-up word derived from Danish-sounding syllables, deliberately crafted to evoke premium branding. Decades later, consumers worldwide instinctively associate the brand—with its distinctive umlauted ‘a’—with ‘European aristocratic heritage,’ unaware it is authentically American. In 1973, after achieving popularity along the U.S. East Coast, Häagen-Dazs opened its first dedicated boutique in Brooklyn.

Budweiser Expands U.S. Factory; Häagen-Dazs to Exit Brazil; Hormel Foods Appoints Chief Officer

Recently, Nestlé Vietnam officially launched its new glass-jar packaging line (‘Jar Line’) for instant coffee at its Tri An factory in Dong Nai Province, further enhancing local production and export capacity for instant coffee. The new line features highly automated design, enabling flexible production of product lines including ‘NESCAFÉ GOLD’ and ‘NESCAFÉ Classic,’ and accommodating diverse packaging specifications required by different export markets. Its initial daily output exceeds 350,000 jars. The line incorporates real-time data management, intelligent camera inspection, metal detection, and X-ray inspection technologies, enabling fully automated production—from raw material receipt through to finished-product packaging. Currently, glass-jar instant coffee produced on this line is exported to 11 international markets, with plans underway to expand exports further. (Vietnam Government E-News) Editor’s Note: Digital quality-control systems enhance production standardization and efficiency, reinforcing Vietnam’s role as a key overseas production base for Nestlé coffee. Going forward, attention should focus on progress in overseas channel expansion, as well as competitive pressures from rival brands in the instant coffee segment and their impact on absorption of newly added production capacity. – Brand Updates – Häagen-Dazs to Exit the Brazilian Market Recently, Brazilian media reported that General Mills has decided to discontinue selling Häagen-Dazs in Brazil as part of its portfolio restructuring. Häagen-Dazs entered the Brazilian market in 1997; its withdrawal marks the end of nearly 30 years of local operations. In March this year, General Mills agreed to sell its Brazilian business—including brands Yoki and Kitano, plus local manufacturing facilities—to Brazilian coffee company 3corações for BRL 800 million (approx. USD 147 million). Notably, Häagen-Dazs was excluded from this transaction. Its exit thus forms part of General Mills’ broader effort to streamline its Brazilian operations and optimize resource allocation. (FoodBev) Editor’s Note: General Mills’ decision to withdraw Häagen-Dazs from Brazil reflects a strategic move toward regional business streamlining and resource optimization. Despite nearly three decades of deep market presence, the brand’s departure signals mounting profitability pressure and underwhelming localization performance in the local market. Häagen-Dazs’ exclusion from the broader asset sale also underscores the group’s differentiated treatment of this brand asset; future monitoring should focus on its strategy across other Latin American markets. Chaqi Food Reports H1 2026 Revenue of RMB 3.506 Billion On August 24, Chaqi Food released its semi-annual report for 2026. During the reporting period, the company achieved revenue of RMB 3.506 billion, up 27.39% year-on-year; net profit attributable to shareholders totaled RMB 246 million, surging 177.38% year-on-year; and net profit attributable to shareholders excluding non-recurring items reached RMB 202 million, soaring 368.39% year-on-year. This growth was primarily driven by improved cost control, channel restructuring, and optimized product mix. On the cost front, sunflower seed procurement prices declined year-on-year; on the channel front, the company intensified efforts in snack wholesale and instant retail channels, launching exclusive large-pack products tailored for leading wholesale retailers; on the product front, Spring Festival gift boxes, ‘Kui Zhen’ premium sunflower seeds, ‘Da Shou’ melon seeds, and mixed-nut products all posted strong growth. Meanwhile, the company continues advancing brand youthification via initiatives such as Sunflower Festivals, digital brand ambassadors, and cross-brand collaborations. (Official Brand Announcement)

General Mills eyes separation of Haagen-Dazs brand outside North America, WSJ reports

2 days ago

General Mills considers separating Haagen-Dazs operations outside North America, possibly selling to partner Froneri. This portfolio reshaping addresses rising raw material costs and changing consumer dietary trends driven by health concerns.

reuters

2026-11-05

General Mills eyes separation of Haagen-Dazs brand outside North America, WSJ reports

General Mills eyes separation of Haagen-Dazs brand outside North America, WSJ reports

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