Warren Buffett's Firm to Open 1,000 Ice Cream Stores in China

The International Dairy Queen (IDQ), part of American business mogul Warren Buffett's Berkshire Hathaway conglomerate, plans to open 1,000 ice cream stores in China.

"By the end of 2016, we aim to operate 2,000 stores outside America and Canada, with at least 1,000 located in China," John Gainor, IDQ president and chief executive officer, said.

Gainor inaugurated the 500th Chinese store in Shanghai on Thursday, Feb. 9, 2012.

Since 2005, the ice cream chain based in Minneapolis, Minnesota, has been accelerating its China expansion, which is now only second to North America.

The IDQ has more than 5,700 locations operating throughout the US, Canada and 22 other countries. The company was founded in 1940.