US company General Mills is selling its Häagen-Dazs ice cream shops in China to a group of investors including tea business Ningji, in the latest example of a shift towards local management for foreign brands.
The deal will involve a licence from General Mills to use the Häagen-Dazs brand in shops in mainland China, the company said late on Monday.
China’s consumer sector has been marked by intense domestic competition and pressures from an economic slowdown, prompting a spate of recent deals.
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