Danone: disposal of Stonyfield in US.
(CercleFinance.com) - Danone has announced an agreement with Lactalis for the sale of Stonyfield, one of its American fresh dairy products subsidiaries, for a purchase price of 875 million dollars, representing 20 times its 2016 EBITDA.
According to the agreement reached with the American competition authorities on 31 March, this sale is required as part of Danone's recent acquisition of WhiteWave. Stonyfield generated revenues of about 370 million dollars in 2016.
The completion of the disposal is subject to the usual prerequisites, including a final approval by the Department of Justice; it is expected during the third quarter of this year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
According to the agreement reached with the American competition authorities on 31 March, this sale is required as part of Danone's recent acquisition of WhiteWave. Stonyfield generated revenues of about 370 million dollars in 2016.
The completion of the disposal is subject to the usual prerequisites, including a final approval by the Department of Justice; it is expected during the third quarter of this year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.