France’s Danone Sells Stonyfield to Lactalis for $875 Million

French food group Danone has agreed to sell its U.S dairy business Stonyfield to Lactalis for $875 million, a move designed to address competition concerns stemming from its acquisition of U.S. organic food group WhiteWave.

July 5, 2017

Reuters

Danone North America

French food group Danone has agreed to sell its U.S dairy business Stonyfield to Lactalis for $875 million, a move designed to address competition concerns stemming from its acquisition of U.S. organic food group WhiteWave.

Danone said on Monday that Stonyfield had around $370 million in turnover in 2016, and that the sale price represented a multiple of around 20 times the 2016 earnings before interest, tax, depreciation and amortization (EBITDA) for Stonyfield, Reuters reports.

Danone shares rose 1.3 percent, in line with a similar rise on the CAC-40 index of French blue chips stocks.

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