By Nick Kostov Stock Market Quotes, Business News, Financial News from http://commodity-market-news.com
PARIS– Danone SA has agreed to buy organic foods producer WhiteWave Foods Co., boosting the world’s largest yogurt maker’s presence in the U.S.
The French dairy company will pay $56.25 a share in cash, the company said Thursday. The offer represents an enterprise value of approximately $12.5 billion, including debt and certain other WhiteWave liabilities. The price is a 24% premium over WhiteWave’s 30-day average closing trading price, Danone said.
Emmanuel Faber, Danone’s chief executive, took the reins of the company in October 2014 and has vowed to return Danone to sustainable growth, reviewing its business in China and overhauling its fresh dairy unit. The deal–Danone’s largest acquisition in a decade — will boost the company’s product line with brands including Horizon Organic milk and Silk almond milk.
“It will allow us to enhance Danone’s growth profile and reinforce our resilience through a broader platform in North America,” Danone Mr. Faber said of the deal.
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