Danone boosts U.S. dairy position with Stonyfield.

Ice Cream Reporter, October, 2001

Global food and beverage marketer Groupe Danone has strengthen its position in the U.S. dairy market through the acquisition of a 40% share in Stonyfield Farm, the country's leading organic yogurt maker. In announcing the acquisition, the two companies reported that Paris-based Danone will also have the option to boost its stake in 2004 to a majority holding of Stonyfield. In addition, it would be allowed to fully consolidate Stonyfield's financial results. Full terms of the transaction, which the companies refer to as a "long-term partnership," were not disclosed. However, the Paris-based Danone would initially acquire the Stonyfield shares from nearly 300 existing shareholders, including farmers, friends and Hirshberg's family. The deal is subject to the approval of...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.