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
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.