Posts tagged "Danone"

Danone sets 2030 goals

[30 April/Dairy Reporter] Danone introduced a set of nine long-term goals at its annual general meeting. Its goals are aligned with the United Nations 2030 Sustainable Development agenda and embed business, brand and trust models. It also said it was launching an employee engagement programme and a governance model for its 100,000 employees to co-own...

Danone completes the sale of part of its stake in Yakult for $1.6bn

[28 March/Dairy Reporter] Danone, a French dairy company, announced they had sold $24.6 million shares of Yakult for approximately $1.6 billion. This corresponds to a valuation multiple of thirty nine times their 2017 net income. Proceeds from the transaction will be used to continue deleveraging and invest in accelerating organic growth and maximising efficiencies in...

Beingmate write down behind Fonterra first-half loss

[22 March/Otago Daily Times] Fonterra has posted a $348 million after tax loss for its first half of trading, largely due to the $405 million write-down in the value of its stake in Chinese infant formula distributor, Beingmate. Fonterra Chairman, John Wilson, said shareholders would be rightfully disappointed with this outcome and that Beingmate’s continued...

Danone invests in Harmless Harvest coconut water

[5 February/ Food Dive] Danone Manifesto Ventures, the venture capital arm of Danone, has announced that it was part of a USD30 million investment round into coconut water producer, Harmless Harvest.  The amount of the investment was not disclosed but it gives global dairy company access to the hot coconut water market that is expected...

A bug in the system: Kids’ functional dairy notably absent in probiotic innovation

[27 November/ Food Navigator] Companies including Danone, Nestle, DuPont and Sanofi have continued their probiotic product innovation, this time focusing on children and infant health. Chr Hansen Food Cultures and Enzymes Global Marketing Manager, Dorte Eskesen said innovation for dairy products aimed at children has been at a low and steady level in the past...

Nestle may be considering Hain Celestial acquisition

[21 November/ Food Dive] Nestle is exploring an acquisition of Hain Celestial to calm pressure from activist investor Daniel Loeb. Nestle has taken gradual steps to update its brand portfolio and has purchased and invested in numerous environmentally friendly and sustainable businesses. Hain may be actively seeking a sale as the company’s profit decreased from...

Danone focuses climate efforts on regenerative agriculture

[17 November/Food Navigator] French company Danone is joining forces with the French government’s 4/1000 international initiative on soil health as part of its goal to support regenerative agriculture and to become carbon neutral by 2050. This goal includes reducing full scope emission intensity by 50 percent by 2030. Between 2008 and 2016, Danone achieved a...

Danone shares up on takeover report for EUR44 billion firm

[15 August/Irish Examiner] The shares in Danone rose 1.5% on the back of a report in the New York Post citing a stock market rumours that a bid from a Kraft or a Coca Cola was possible for the company and that the French government would likely approve the transaction. A spokesperson for Danone would...

Nestlé holds on to top spot in Rabobank’s global dairy top 20

[12 July/ Dairy Reporter] The Global Dairy Top 20, looks at dairy turnover in billions of US dollars to create its chart. Nestlé has retained its number 1 ranking, with USD24 billion. Danone is now the number two company at USD18.3 billion, with Lactalis in third place at USD18 billion. The data Rabobank used for...

France’s Danone to sell Stonyfield to Lactalis for $875 million

 [3 July/Reuters] Danone has agreed to sell its United States dairy company Stonyfield to Lactalis for USD875 million, to answer competition concerns due to its acquisition of US organic food group WhiteWave. Danone said Stonyfield had USD370 million in turnover in 2016, and the sale price is reasonable in respect to this. The deal is...

China’s dairy giant Yili to bid for Danone’s Stonyfield

[11 May/ China Daily] With Groupe Danone’s acquisition of Whitewave Foods, it has announced that it is putting organic yogurt producer, Stonyfield, on the market and Inner Mongolia Yili Industrial, China’s biggest dairy group, plans to bid for the entire company, which is valued at around USD850 million.  Yili said in an announcement that the...

Danone completes acquisition of WhiteWave to create DanoneWave

 [13 April/ Food Navigator] Danone’s deal with WhiteWave has been finalised and under the terms of the agreement, Whitewave shareholders will receive USD56.25 per share in cash. WhiteWave common stock has ceased trading and will be delisted from the New York Stock Exchange. The acquisition was permitted due to Danone’s agreement to sell its Stoneyfield...

Danone to sell Stonyfield to complete WhiteWave acquisition

[31 March/ Dairy Reporter] Danone has achieved an agreement in principle with the Antitrust division of the United States Department of Justice as it plans to close the acquisition of WhiteWave. To quickly complete the WhiteWave acquisition, Danone will sell one of its US dairy subsidiaries, Stonyfield, because its divestiture does not impact the strategic...

PepsiCo, Nestle among companies in sustainable food programme

 [20 January/ Food Business News] Twenty five global food and beverage manufacturers have announced the formation of the FReSH initiative – the Food Reform for Sustainability and Health Program.  The programme’s goal is to accelerate change in global food systems to deliver everybody with a healthy diet of food produced within planetary boundaries.  The programme,...

13 Food Giants pledge to ‘redouble’ climate change efforts at COP22

[21 November/ FoodNavigator.com] A letter signed by the CEO’s of 13 of the largest food and beverage companies in the world (including Unilever, Mars, Danone and Kellogg) highlights the risk of rising agricultural emissions and the impact that this could on destabilising the global food system, placing livelihoods, farming communities, agricultural supply chains and consumers...

Dairy in sales decline as Danone tops global dairy rankings again

 [18 August/ Dairy Reporter] Euromonitor figures showed that the retail value of the global dairy market decreased from USD 501.6 billion in 2014 to USD 454.2 billion in 2015 and USD 452.6 billion in 2016. The majority of these decreases were due to exchange rates with several major currencies weakening against the USD. According to...

Danone Boosts U.S. Business With $10 Billion WhiteWave Deal

[7 July/ The Wall Street Journal] Danone has agreed to buy WhiteWave Foods for about USD 10.4 billion in a deal which would increase its exposure to the organic food market and more than double its North American revenue. WhiteWave was one of the fastest growing companies in the organic foods sector, reporting a net...

Karicare Gold baby milk powder pulled from China: report

 [30 March/ Business Day] Danone have announced that Karicare Gold Baby Milk Powder would no longer be sold in China. Danone temporarily pulled the product from shelves in 2013 when Fonterra revealed they had produced a batch of whey powder that was potentially tainted with bacteria that could cause the deadly botulism illness. Further testing...

Fonterra, Danone to fight behind closed door

[2 February/ NZ Herald] The Court of Appeal stayed the High Court proceedings between Fonterra and French food giant, Danone over the alleged breach of the Fair Trading Act and alleged claim of negligent misstatement until the final outcome of their arbitration proceedings Singapore. The arbitration proceedings are scheduled to take place in early 2016....

Director a first for Zespri

[5 December/ NZ Herald] Zespri said that it appointed former Danone executive, Teresa Ciprian as an independent director, making her Zespri’s first women director. Ms Ciprian has advised a number of internationally focused business on their growth strategies and has developed a governance portfolio, which includes the boards of Firstlight Foods, AgResearch, Aspeq and Aviation...

French formula firm plans expansion

[18 September/ Radio New Zealand Rural] French owned Danone acquired the Gardian milk powder plant in South Otago and the Sutton Group’s infant formula blending and packaging plant in Auckland earlier in 2014. Danone Nutricia New Zealand managing director, Corine Tap said that it plans to source milk from approximately 60,000 cows in 2020, along...

Danone fights to keep Fonterra case live

[8 August/ NZ Herald] French food giant, Danone is appealing the High Court ruling, which ruled that the arbitration seated in Singapore should occur prior to litigation in New Zealand. Justice Geoffrey Venning sitting in the High Court ruled in favour of Fonterra saying that the facts underlying Danone’s claims in arbitration and New Zealand...

Danone regroups after Fonterra win

[19 July/ NZ Herald] The New Zealand High Court has stayed Danone’s proceedings against Fonterra in New Zealand over the botulism scare stating that the arbitration seated in Singapore should take place first. Fonterra had argued that the New Zealand proceedings were an attempt to transcend the liability cap in the parties’ supply agreement (which...

Fonterra bids to halt Danone legal action

[23 June/ NZ Herald] Fonterra is attempting to suspend the legal action brought against it by Danone over last year’s WPC80 precautionary recall. Danone said in January it was launching High Court proceedings in New Zealand and arbitration proceedings in Singapore to obtain compensation for the harm it suffered as a result of the recall,...