Food Industry
Industry: Email Alert RSS FeedDanone gains stake in US yoghurt firm - Stonyfield Farm - Brief Article - Statistical Data Included
Eurofood, Oct 11, 2001
French firm Danone has bagged a 40% stake in US firm Stonyfield Farm, with further options to gain a majority stake in 2004. Financial details of the deal were not disclosed.
Stonyfield is an organic yoghurt producer, and one of the US's top socially responsible businesses giving 10% of its profits to environmental causes.
Completion of the deal will see current chief executive officer Gary Hirshberg remain at the helm of Stonyfield, which will be run autonomously from Danone.
Frank Riboud, chief executive officer at Danone said the French firm would continue to support Stonyfield's efforts for a healthier planet.
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According to market information, Stonyfield's yoghurt is the number four brand in the US, with Danone's Dannon brand holding the number two position.
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