GOLDEN VALLEY, Minn. (AP) — General Mills sold the franchise rights for U.S. and Canadian Haagen-Dazs ice cream stores to Dreyer's Grand Ice Cream Inc. on Wednesday.
The value of the cash transaction wasn't disclosed. Dreyer's said the financial effect would not be material.
The acquisition means Dreyer's now handles all manufacturing and marketing of Haagen-Dazs ice cream in the United States. General Mills, based in Golden Valley, Minn., still owns the Haagen-Dazs brand and the rights to sell it outside the United States and Canada, spokeswoman Marybeth Thorsgaard said.
The franchise business includes 236 Haagen-Dazs Ice Cream Parlors in the United States that are independently owned and operated by franchisees.
Last June, Oakland-based Dreyer's obtained a license for the Haagen-Dazs brand in the United States and the supply contract to the stores after 67 percent of Dreyer's was bought by Nestle Ice Cream Company.