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Danone says to sell Stonyfield unit as part of WhiteWave deal
March 31, 2017 / 6:02 AM / 6 months ago

Danone says to sell Stonyfield unit as part of WhiteWave deal

PARIS, March 31 (Reuters) - French food group Danone said on Friday it had decided to sell its U.S. subsidiary Stonyfield to facilitate the rapid closing of its acquisition of U.S. organic food producer WhiteWave foods Co .

Danone said in a statement the decision to sell Stonyfield, which had a 2016 turnover of around $370 million, stemmed from an agreement in principle it had reached with the anti-trust department of the U.S. Department of Justice.

The WhiteWave acquisition is expected to close “promptly” Danone said, reiterating all its value-creating targets expected from the WhiteWave acquisition.

Reporting by Dominique Vidalon; Editing by GV De Clercq

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