Danone Completes WhiteWave Acquisition

31cedc6c-a5a7-4410-b858-5bcb06cce74farticleimage.jpg

13 Apr 2017 --- French multinational Danone has completed the acquisition of organic producer Whitewave and under the merger agreement, the two will combine activities in North America to operate under the name “DanoneWave."

Making the announcement today (Apr 13) Danone says WhiteWave shareholders will receive $56.25 per share in cash and completion of the transaction means the WhiteWave common stock has ceased trading prior to market opening today and will now be delisted from the New York Stock Exchange.

The strategic business unit DanoneWave will include Danone dairy’s and WhiteWave’s current North American businesses under new CEO Lorna Davis. Alpro will join forces with Danone Dairy as a key pillar of its new plant-based category, managed by Gustavo Valle, with the aim to expand and grow the plant-based category around the world.

”I am thrilled that we have completed the acquisition of WhiteWave”, said Emmanuel Faber, CEO of Danone. “Danone and WhiteWave are a perfect match to build a global leader leveraging consumer trends and expectations for healthier and more sustainable eating and drinking choices.”

“With leading positions in some of the fastest growing, health-focused categories, this combination will drive our Alimentation Revolution, our business performance, and will accelerate our 2020 growth journey.” 

“I am convinced that the combined experience and capabilities of our new management team and the extensive preparation work done by the integration team since July will capture the great business opportunities ahead and fully deliver our synergy plan.”

“I am therefore fully confident that we will drive strong value creation and deliver the attractive financial benefits we outlined last July. We now look forward to welcoming our talented new team members from WhiteWave".

To contact our editorial team please email us at editorial@cnsmedia.com

Related Articles

Food Ingredients News

Sensient execs on Mazza buy: “We want to take everything out of the botanical”

20 Jul 2018 --- Sensient is eyeing the newly acquired botanical extraction company Mazza Innovation as a strategic pillar for all of its business operations, including colors and flavors. Presented under the new name of “Sensient Natural Extraction” and continuing to operate out of Canada, the new business unit provides a clean extraction opportunity for Sensient Technologies Corp. The acquisition will offer opportunities in sustainability, cost reduction and clean label, as the entire botanical being used can be broken down and distributed among the diverse companies that comprise Sensient.

Food Ingredients News

Weekly Digest: Symrise nominated for Sustainability Award, innovation in cricket protein flours

20 Jul 2018 --- Symrise has been nominated for the German Sustainability Award. Cricket protein brand Seek, has launched a new line of high protein and sustainable baking flours. Michel Burla, Managing Director of the Cereals and Ingredients Division of the Hochdorf Group, is to step down at the end of this year and GEA has been working with Almarai Company in Saudi Arabia to build the nation’s largest and most modern dairy processing facility.

Food Ingredients News

Unilever: Brazil truckers’ strike “a significant headwind”

20 Jul 2018 --- Unilever’s half-year results have been impacted by an extended truckers strike in Brazil while overall “challenging market conditions” have also affected the British-Dutch transnational consumer goods company. Net profit dropped from €3.3bn (US$3.8bn) to €3.2bn (US$3.7bn) in the first half of the year. Turnover also fell five percent to €26.4bn (US$30.6bn).

Food Ingredients News

Cambridge Commodities acquires ingredient business of US wholesaler Earth Circle Organics

19 Jul 2018 --- UK-based ingredient supplier Cambridge Commodities has acquired the ingredient business of US wholesaler Earth Circle Organics LLC, for an undisclosed sum. Following the acquisition, Earth Circle Organics’ raw and organic superfood ingredient business will merge with the US arm of Cambridge Commodities to create a new division, operating as Earth Circle Ingredients.

Food Ingredients News

Dairy dilemma: Brexit could lead to butter, yogurt and cheese shortages, warns Arla Foods

19 Jul 2018 --- Arla Foods is warning British consumers will likely face restrictions in dairy supplies once the UK leaves the EU – and this could result in “scare supplies” of highly-priced butter, yogurt and cheese which will be considered “luxury items.” The European-wide dairy cooperative says border breakdown could leave UK consumers with less choice and higher prices.

More Articles