Sector News

Danone doesn’t need transformational deal – CEO

March 18, 2015
Food & Drink
(Reuters) – French food group Danone does not need to make a large acquisition to pursue its development, its chief executive said on Tuesday.
 
“Danone does not need to make any transformation deal to be operational,” Emmanuel Faber told the CAGE investor conference in London in comments broadcast online.
 
In December, Danone said it would keep its Medical Nutrition division, ending months of speculation that the world’s largest yoghurt maker was trying to sell its smallest business to raise cash for acquisitions.
 
Danone could notably have used proceeds to help fund a takeover of U.S. infant formula maker Mead Johnson Nutrition Group, a deal that sources have said it wants to pursue.
 
Danone, the maker of Activia and Actimel yoghurt, also reiterated on Tuesday that it expected underlying sales to rise between 4 and 5 percent this year, with a slight increase in its operating margin.
 
By 1004 GMT, Danone shares were down 0.11 percent at 62.59 euros, outperforming the CAC 40 Index of French blue-chips , which was down 0.26 percent. (Reporting by Dominique Vidalon; Editing by James Regan)

comments closed

Related News

June 3, 2023

Changing of the guard at consumer goods companies: New finance chiefs for Nestlé and Unilever

Food & Drink

After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.

June 3, 2023

Bacardi appoints new director to board

Food & Drink

International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.

June 3, 2023

What’s bubbling in beverages? Novel sensations, sugar reduction, botanicals and bold colors drive innovation

Food & Drink

According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.

How can we help you?

We're easy to reach