Danone To Sell Stonyfield To Lactalis For $875 Mln

04-Jul-2017 - France

Danone, a global food company, announced that it has entered into a binding agreement to sell Stonyfield, one of its U.S. dairy subsidiaries, to Lactalis for a purchase price of $875 million, representing 20 times its EBITDA in 2016.

This divestiture is part of the agreement reached on March 31st, 2017 with the U.S. Department of Justice in connection with Danone's recently closed acquisition of WhiteWave. Stonyfield generated approximately $370 million in turnover in 2016.

Danone expects closing of the divestiture in the third quarter of this year and is subject to customary conditions, including final approval by the DOJ. (dpa)

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