In order to facilitate the closing of the WhiteWave acquisition, Danone has decided to sell one of its U.S. dairy subsidiaries, Stonyfield, in the months following the closing of the acquisition of WhiteWave. Group Danone said it has reached a major step toward the closing of the WhiteWave acquisition with the Antitrust Division of the U.S. Department of Justice (DOJ).
In a statement, Danone said, “While Stonyfield has been a valued part of Danone’s portfolio and remains a highly attractive asset, its divestiture does not impact the strategic rationale or financial benefits of the WhiteWave acquisition.”
Danone CEO Emmanuel Faber said, “While as part of our agreement with the DOJ we have made the strategic decision to divest our Stonyfield business, we are proud of all that we have accomplished together. We are committed to finding the right partner to support Stonyfield’s growth journey in the future. In doing so we will attract more competition and capital into the U.S. organic segment, creating an opportunity for it to grow even faster.”
Stonyfield is an organic yogurt maker located in Londonderry, New Hampshire. It was founded by Samuel Kaymen in 1983 on a 19th-century farmstead in Wilton, New Hampshire, as an organic farming school. Danone purchased the company in 2001.