Danone signs agreement to acquire YoCream
Danone has signed an agreement to acquire YoCream, the leading producer of frozen yogurt in the United States, for US$103 million.
The transaction will enable Danone to move into frozen yogurt, a fast growing segment in the US. It will also gain access to an away-from-home distribution network, in addition to its existing channels.
The move reflects Danone’s strategy for expansion of the fresh dairy products market in the US, in particular by extending the times and places where its products are consumed.
YoCream is based in Portland, Oregon, and its 2010 net sales are estimated at approximately US$58 million.
The acquisition is subject to usual conditions for this type of transaction and is expected to be closed by the end of 2010.
About YoCreamYoCream International Inc. is a world leader in the frozen yogurt industry. Since 1977, YoCream has pioneered the innovation, production and marketing of frozen yogurt in the US. The Company operates a state-of-the-art production facility in Portland, Oregon, to manufacture its “true” frozen yogurt, which contains real yogurt that is fermented and cultured on site daily.