Sector News

Danone to sell Stonyfield for WhiteWave buy

March 31, 2017
Consumer Packaged Goods

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

Source: MarketWatch

comments closed

Related News

June 8, 2024

Nomad Foods names Ruben Baldew as next Finance Chief

Consumer Packaged Goods

Frozen food maker Nomad Foods has appointed Ruben Baldew as its new chief financial officer, effective 17 June 2024. Baldew will succeed Samy Zekhout, who has stepped down to explore other opportunities outside of Nomad Foods. Zekhout will remain with the company until 31 July to ensure a smooth transition of duties, the Birds Eye maker noted.

June 8, 2024

Danish Crown CEO Jais Valeur to step down

Consumer Packaged Goods

Danish Crown has accelerated the search process for a new chief executive following the announcement by current CEO Jais Valeur that he intends to step down from his role. Valeur, who joined the company as CEO in 2015, will remain in his position until a replacement is found “to ensure no momentum is lost during the recruitment process,” Danish Crown explained.

June 8, 2024

Heineken achieves milestone with first European regenerative barley harvest

Consumer Packaged Goods

Heineken has achieved a significant milestone with the completion of its first large-scale regenerative agriculture barley harvest in Europe. The initiative, developed through Heineken’s Transitions programme and in collaboration with French cooperative Vivescia and its malt subsidiary Malteurop, represents the company’s first foray into regenerative farming at scale.

How can we help you?

We're easy to reach