1200亿，哈根达斯要卖了

Core Viewpoint - Goldman Sachs is preparing to acquire the ice cream manufacturer Froneri for an estimated valuation of €15 billion (approximately ¥120 billion), which includes the iconic Häagen-Dazs brand as a significant asset [4][5]. Company History - Häagen-Dazs was founded in 1961 by Reuben Mattus, who aimed to create a premium ice cream brand free from additives, targeting high-end markets [7][9]. - The brand quickly gained popularity, opening its first store in Brooklyn in 1973, positioning itself as a luxury product priced five times higher than regular ice cream [9]. - Over the years, Häagen-Dazs underwent multiple ownership changes, including acquisitions by Pillsbury, Diageo, General Mills, and Nestlé, leading to its current operation under Froneri [10][11][12]. Current Market Situation - Häagen-Dazs is facing significant challenges in the Chinese market, with a reduction in store numbers from over 400 to 263 and a decline in customer traffic by double digits [15][17]. - The brand's high pricing strategy is being challenged by local competitors and changing consumer preferences, leading to a decrease in demand for premium ice cream [17][18]. - General Mills reported a 5% decline in net sales for the third quarter of fiscal 2025, with international markets, particularly China and Brazil, being major contributors to this downturn [17]. Strategic Moves - General Mills is considering selling its Häagen-Dazs business in China, with potential transaction values estimated between $500 million and $800 million, as part of a strategy to divest low-profit assets [14][18]. - The trend of divesting underperforming assets is not unique to Häagen-Dazs; other brands like Starbucks and Decathlon are also exploring similar strategies in response to intensified competition in the Chinese market [20][21]. Investment Opportunities - The current environment presents a unique opportunity for investors to acquire undervalued consumer brands, as many companies are looking to offload assets amid economic challenges [24][25]. - The consumer sector is traditionally viewed as resilient, making it an attractive area for investment during economic downturns, with significant interest from private equity firms in acquiring international brands' operations in China [25][26].