Danone has agreed to sell Londonderry-based Stonyfield organic yogurt brand to win approval from US antitrust authorities for its $10 billion acquisition of soy-milk maker WhiteWave Foods.
Danone and the US Justice Department’s antitrust division reached an agreement in principle that will allow the WhiteWave deal to close shortly, the Paris-based company said in a statement Friday. As part of the accord, Danone will sell Stonyfield in the months after the acquisition is completed, the company said.
Danone, seller of Dannon yogurt and Evian water, announced it was buying WhiteWave in July. The combination will allow to develop a world-leading dairy and plant-based food and beverage portfolio, with a full spectrum of better-for-you offerings, including protein-rich, organic, non-GMO and nutrient-dense choices.
France’s Danone said it has agreed to divest the US business to clear the biggest antitrust hurdle in its proposed $10.4-billion purchase of Denver-based WhiteWave Foods.
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