Danone to Buy U.S. Soy-Milk Maker WhiteWave for $10 Billion
Danone agreed to buy WhiteWave Foods Co. for about $10 billion to add the best-selling U.S. soy milk brand Silk and expand in organic food in its biggest acquisition in almost a decade.
Investors will receive $56.25 a share in cash, Danone said in a statement Thursday. That’s 19 percent higher than WhiteWave’s closing price Wednesday. WhiteWave began trading in 2012 after U.S. dairy company Dean Foods Co. spun off the unit, which was its most profitable business. Danone shares rose as much as 5.8 percent in early Paris trading.
The acquisition would make Danone the global leader in fresh dairy and health-food brands including Horizon milk, Wallaby Organic yogurt and Earthbound Farm packaged salads as consumers increasingly shun processed foods perceived as unhealthy.
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