Danone acquisition of US organic food leader takes organic into the mainstream
French food giant, Danone, has acquired US organic food leader, WhiteWave, for approximately US $10.4 billion.
Danone owns numerous dairy, water, infant nutrition and medical nutrition brands including Apatamil and Karicare infant formulas which are widely sold across Australia. Its Danone branded yoghurt is also available in Australian supermarkets.
WhiteWave sells plant based milks, organic and non-genetically modified food. Its brands include Silk, So Delicious, Vega and Alpro.
A “Perfect match”
Danone said White Wave was a “perfect match” as it is already catering to the greater number of consumers after healthier and more sustainable products.
The acquisition was unanimously approved by the Board of Directors of both companies and Danone said it will now use WhiteWave to build a strong North American presence.
Chief Executive Officer of Danone, Emmanuel Faber, said WhiteWave will help the company provide healthier and more sustainable food products.
“To that extent, we found in WhiteWave the perfect alliance as we both believe in a healthier future and are conscious of our power to lead society forward,” he said.
Chairman and CEO of WhiteWave, Gregg Engles, described the acquisition as an exciting next chapter for WhiteWave.
“We believe this is a compelling transaction that delivers significant cash value to our shareholders,” he said.
“Danone is a unique company with distinctive capabilities that will enable WhiteWave to reach its next phase of growth.”
The acquisition is expected to be completed by the end of the 2016 calendar year.