Danone To Sell Stonyfield To Lactalis For $875 Mln
Danone, a global food company, announced that it has entered into a binding agreement to sell Stonyfield, one of its U.S. dairy subsidiaries, to Lactalis for a purchase price of $875 million, representing 20 times its EBITDA in 2016.
This divestiture is part of the agreement reached on March 31st, 2017 with the U.S. Department of Justice in connection with Danone's recently closed acquisition of WhiteWave. Stonyfield generated approximately $370 million in turnover in 2016.
Danone expects closing of the divestiture in the third quarter of this year and is subject to customary conditions, including final approval by the DOJ. (dpa)
Most read news
Other news from the department business & finance

Get the food & beverage industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.