Danone sells Stonyfield to Lactalis

Danone has reached an agreement to sell its US subsidiary Stonyfield to fellow French group Lactalis (owner of Parmalat) for a figure of $875 million.

The sale had already been announced by the French food giant and is part of the agreements signed in March this year with the U.S. Department of Justice regarding the acquisition of a $12.5 billion stake in WhiteWave Foods.

Stonyfield, the second largest producer of organic milk and yoghurt in the USA with a market share of 13.3%, generated revenues of $370 million in 2016.

The transaction is awaiting the approval of the competent American authorities and is expected to be completed in the third quarter of the year.