Danone completes acquisition of WhiteWave
Danone has completed its acquisition of WhiteWave, and will now combine their activities in North America to operate as a strategic business unit, named DanoneWave.
Danone has completed its acquisition of WhiteWave, and will now combine their activities in North America to operate as a strategic business unit, named DanoneWave. Under the terms of the merger agreement, WhiteWave shareholders will receive $56.25 per share in cash.
As previously announced, the combination will include Danone Dairy’s and WhiteWave’s current North American businesses under the leadership of Lorna Davis, who has been appointed chief executive officer of the combined entity. Alpro will join forces with Danone Dairy as a key pillar of its new plant-based category, managed by Gustavo Valle, with the aim to expand and grow the plant-based category around the world. Earlier this month, Danone reached an agreement with the Antitrust Division of the U.S. Dept. of Justice (DOJ) to divest Stonyfield in order to complete the acquisition of WhiteWave.
“I am thrilled that we have completed the acquisition of WhiteWave,” said Emmanuel Faber, CEO of Danone. “Danone and WhiteWave are a perfect match to build a global leader leveraging consumer trends and expectations for healthier and more sustainable eating and drinking choices. With leading positions in some of the fastest growing, health-focused categories, this combination will drive our Alimentation Revolution, our business performance, and will accelerate our 2020 growth journey.”