French dairy company Danone SA BN said Friday it will sell its U.S. subsidiary Stonyfield as part of an antitrust agreement with the Department of Justice regarding its acquisition of WhiteWave.
Danone reconfirmed its expectations for synergies and earnings margins as a result of the WhiteWave acquisition. Stonyfield generated around $370 million in turnover in 2016.
Danone Chief Executive Emmanuel Faber said selling Stonyfield is “a major step towards completing the WhiteWave acquisition expeditiously.”
By William Horobin
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.