General Mills Inc (NYSE:GIS, ETR:GRM) is considering the sale of its Häagen-Dazs ice cream stores in China, according to a report from Bloomberg News.
The publication, citing sources with knowledge of the matter, said the Minneapolis-based company may seek several hundred million dollars for these assets.
A potential sale process that could begin later this year.
The sources told Bloomberg News that the discussions are in the early stages, the General Mills may decide not to proceed with a sale.
The company plans to continue to sell Häagen-Dazs products through supermarkets and convenience stores in China, maintaining its presence in the market via retail channels.
General Mills, along with other packaged food names, is seeing slowing demand due to persistent inflation, as cost-pressured customers focus on value.
The potential sale in China comes amid a broader restructuring of the company, which General Mills said last month will include an expected charge of about $70 million in the current fiscal quarter. The total restructuring is expected to cost about $130 million and be completed by the end of fiscal 2028.
Shares of General Mills are down almost 15% in the year to date, trading hands at about $54 on Wednesday morning.