Danone: Earthbound Farm could be up for sale
(CercleFinance.com) - According to Bloomberg, Danone is considering the resale of Earthbound Farm, California's distributor of organic fruit and vegetables, which entered the French agri-food group's consolidation scope when it acquired WhiteWave last year.
Founded in 1984 and based in the south of San Francisco, Earthbound Farm was itself acquired by WhiteWave in 2014 for 600 million dollars. Danone could now raise about 500 million dollars (around 420 million euros), with private equity funds may be interested, even though no final decision has been taken at this stage.
The French group would make this possible sale as part of the reorganisation of its fresh produce distribution business in the US, which recently weighed on its accounts, Bloomberg comments.
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Founded in 1984 and based in the south of San Francisco, Earthbound Farm was itself acquired by WhiteWave in 2014 for 600 million dollars. Danone could now raise about 500 million dollars (around 420 million euros), with private equity funds may be interested, even though no final decision has been taken at this stage.
The French group would make this possible sale as part of the reorganisation of its fresh produce distribution business in the US, which recently weighed on its accounts, Bloomberg comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.