Business Services Industry
Stonyfield, Dannon Close Ownership Deal.
Knight Ridder/Tribune Business News, December, 2001
By Brad Leighton, The Telegraph, Nashua, N.H. Knight Ridder/Tribune Business News
Dec. 8--LONDONDERRY, N.H.-Dannon now owns 40 percent of Stonyfield Farm.
Stonyfield, the local organic yogurt maker, and the French conglomerate, Groupe Danone -maker of Dannon yogurt among other products - closed on their ownership deal Friday.
All of Stonyfield Farm's 292 shareholders approved the deal. As part of the agreement, Group Danone could opt for a majority interest in Stontfield in 2004. However, Stonyfield will continue to operate as a separate company.
While the full terms of the deal were not disclosed, Stonyfield President and Chief Executive Officer Gary Hirshberg will remain chairman of the Londonderry company's board and will...
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