Yogurt giant Danone to buy U.S. organic food company WhiteWave for $10B
by The Associated Press
Already one of the world's largest food processors, deal would bolster French firm's foothold in American specialty market
France-based Danone is already one of the largest food companies in the world. The deal to buy Denver-based WhiteWave will allow it to build its presence in the U.S. organic specialty segment. PHOTO: Danone
PARIS—Yogurt giant Danone says it reached a $10 billion deal to buy American organic food maker WhiteWave, expanding the French company’s foothold in health foods and the U.S. market.
The Paris-based company said in a statement July 7 that it is paying $56.25 per share in the deal, 24 per cent above WhiteWave’s average stock value over the past month. Including debt and other liabilities, the value of the deal reaches $12.5 billion.
Danone hopes to finalize the deal by the end of the year, pending approval by shareholders and regulators.
Danone is one of the world’s leading food companies, producing several dairy brands, baby foods and Evian water. Denver-based WhiteWave, which went public in 2012, makes Horizon brand organic dairy products, coffee creamers and plant-based dairy alternatives such as Silk brand soy and almond milk.
