The divestiture is part of the agreement with the U.S. Department of Justice in connection with Danone’s acquisition of WhiteWave.
Paris, France — July 3rd, 2017 — Danone has entered into a binding agreement with Lactalis to sell Stonyfield, one of its U.S. dairy subsidiaries, for a purchase price of $875 million, representing 20 times its EBITDA in 2016. Stonyfield generated approximately $370 million in turnover in 2016.
The divestiture is part of the agreement reached on March 31, 2017 with the U.S. Department of Justice (“DOJ”) in connection with Danone’s recently closed acquisition of WhiteWave. The closing of the divestiture is subject to customary conditions, including final approval by the DOJ, and is expected in the third quarter of this year.
[Editor’s note: In 2014, Dairy Foods named Dannon, Danone’s U.S. operation, the Dairy Processor of the Year.]
HYDERABAD: Indian private sector dairies are increasingly scouting for global alliances to avail technologies that could help them launch fast-moving value-added products like yoghurt, colostrum, milk powder and ghee.
Hyderabad-based Heritage FoodsBSE 0.14 %, a private sector dairy founded by Andhra Pradesh chief minister N Chandrababu Naidu, recently roped in a European partner, while Mumbai-based firms Parag Milk Foods and Prabhat Dairy have teamed up with a Swedish dairy and a Th ..
“These (technology) arrangements are primarily aimed at gaining rich experience from global players on the line of FMCG (fast moving consumer goods) companies like BritanniaBSE 0.21 % and Hindustan UnileverBSE -0.62 %, as it has become imperative for dairy players to come up with new and innovative value-added products that give higher margins,“ said Dhaval Mehta, research analyst at financial services firm Emkay GlobalBSE 3.25 %.
According to analysts, while liquid milk fetches a margin of 8-10%, valueadded products yield up to 40% mar gins in the case of beverages and ice creams. “It doesn’t involve huge investments in tying up with a global player for developing a new product, so they are getting added benefits,“ said Mehta.
India is the world’s largest milk producer, accounting for nearly one-fifth of global milk production, followed by the United States, China, Pakistan and Brazil.
Robinsons Brewery’s Iron Maiden Hallowed
Category – Beer, Belgian-style 6% abv
Available – For four months from October
Location – Global
The UK’s Robinsons Brewery has extended its partnership with Iron Maiden by adding a limited-edition Belgian-style ale to the heavy metal band’s on-trade portfolio.
Hallowed was designed by Iron Maiden vocalist Bruce Dickinson, who helped create the other beers in the range, Trooper and Red ‘N’ Black Porter. It is one of the first beers to be brewed by Robinsons that uses Belgian yeast.
Dickinson said: “What makes this brew pretty special is that we’re adopting a Belgian yeast for the first time. I’m a big fan of Belgian beers, so I jumped at the chance to brew my own. While I get very excited about experimenting with new formulas and ingredients, the thing about Belgian beer is that it’s as much a way of life as it is a drink. We’ve tried to bottle that philosophy in Hallowed, albeit with a British twist.”
The label on the new product pays tribute to Belgian beer, presenting Iron Maiden’s mascot Eddie robed in traditional Trappist monk’s clothing.
Robinsons first teamed up with Iron Maiden for Trooper in May 2013. Since then, the beer has sold more than 15m pints.