Danone: disposal ahead of Whitewave takeover.
(CercleFinance.com) - Danone today announced the completion of the sale of its US subsidiary Stonyfield to another French dairy giant, Lactalis.
The terms of the deal were not specified.
"The divestiture was part of the agreement reached on 31 March 2017 with the DoJ in connection with Danone's recently closed acquisition of WhiteWave," the French group said.
Lactalis announced the signing of the agreement to purchase Stonyfield, presented as the "market leader for organic yoghurt in the United States" on 3 July. Stonyfield reported 2016 sales of approximately 370 million dollars (arbout 320 million euros), which corresponds to the marketing of over 100,000 tonnes of products mainly from the Londonderry dairy in the state of New Hampshire.
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The terms of the deal were not specified.
"The divestiture was part of the agreement reached on 31 March 2017 with the DoJ in connection with Danone's recently closed acquisition of WhiteWave," the French group said.
Lactalis announced the signing of the agreement to purchase Stonyfield, presented as the "market leader for organic yoghurt in the United States" on 3 July. Stonyfield reported 2016 sales of approximately 370 million dollars (arbout 320 million euros), which corresponds to the marketing of over 100,000 tonnes of products mainly from the Londonderry dairy in the state of New Hampshire.
Copyright (c) 2017 CercleFinance.com. All rights reserved.