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
Paine Schwartz Partners has closed on a Paine Schwartz Food Chain Fund VI, L.P. at $1.7 billion. The fund is aimed at investing in the food and agribusiness value chain. The company has invested about 40% of Fund VI in AgroFresh Solutions, Costa Group, Elemental Enzymes, HGS BioScience and Monterey Mushrooms.
After 26 years in Geneva, Switzerland, the decision to move has been made after visitor and exhibitor feedback, as well as growth plans for the Vitafoods brand. Vitafoods Europe 2025 will be held on 20-22 May 2025 at Fira Barcelona, with more details to be announced next year.
The traditional symbol of family reunion and cultural pastry of Asia is undergoing a reinvention. With the majority of young consumers in Asia expressing an increasing interest in healthier options, a growing market for mooncakes tailored to dietary preferences and restrictions is opening up across the globe.