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Danone buys Broomfield White Wave

Posted on: May 31 17

by: admin

French multinational dairy company Danone has completed its $10 billion buy of Broomfield-based WhiteWave. Shareholders of WhiteWave received $56.25 per share of the company.

The combined company will operate under the name DanoneWave in North America and will retain two headquarters, in Broomfield and in White Plains, N.Y. Lorna Davis will serve as CEO of the new entity.

The last major hurdle for completion of the deal came in late March when the Department of Justice gave its seal of approval, pending the sale of Danone’s U.S. organic dairy subsidiary Stonyfield. Organic industry group Cornucopia Institute was attempting to block the deal, arguing Danone would control too much the organic milk industry in the United States.

WhiteWave shareholders approved the acquisition, for $10.4 billion plus $2.1 billion in liabilities, in October.

“The histories of Danone and WhiteWave share common traits as purpose-driven, health-focused category leaders, which make for a perfect match,” said Blaine McPeak, COO of DanoneWave. “Bringing together our powerful brand portfolios enables us to better service consumers’ diverse preferences in high growth and evolving categories.”

Read article by Shay Castle/Broomfield Enterprise

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