Danone completes acquisition of WhiteWave Foods
Global food company Danone has completed the acquisition of WhiteWave Foods, a manufacturer of plant-based foods and beverages.
According to the merger agreement, WhiteWave stakeholders will be paid $56.25 per share in cash.
With the completion of this transaction, Danone and WhiteWave will merge their business activities in North America and operate as a new strategic business unit, which will be known as ‘Danone Wave’.
To facilitate this transaction, Danone has also reached an agreement with the anti-trust division of the US Department of Justice (DOJ), where it has agreed to sell its US dairy subsidiary Stonyfield.
Danone CEO Emmanuel Faber said: “I am thrilled that we have completed the acquisition of WhiteWave.
“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."
Danone Wave will be focusing on expanding its plant-based food worldwide.
Image: Danone employees carrying dairy products. Photo: courtesy of Danone.