Danone agreed to sell American dairy manufacturer Stonyfield to its compatriots from Lactalis for 875 million dollars (770 million euro).
Part of WhiteWave acquisition
Stonyfield, founded in 1983, manufactures organic yoghurt and generated a 370 million dollar (325 million euro) turnover last year. Danone bought a 40 % stake in 2001 and increased that to 85 % in 2003. Its sale to another French dairy giant should be concluded in the third quarter of 2017.
Stonyfield’s sale is part of Danone’s WhiteWave acquisition, because it had to sell it to comply with the American Bureau of Competition’s demands. Only if Stonyfield exchanged owners, Danone would be able to acquire Alpro’s parent company, Whitewave. That deal is also Danone’s biggest ever, at 11 billion euro.
