The French food giant said it'll sell the U.S. yogurt brand so it can complete its acquisition of organic food producer WhiteWave Foods. Fred Katayama reports.
Stonyfield is up for grabs. Its owner, Danone, said it'll sell the U.S. yogurt maker so it can complete its $10 billion purchase of American organic food producer WhiteWave Foods. It's making the move to satisfy U.S. antitrust regulators. France's Danone, known for its Dannon brand in the U.S., has a huge stake in the yogurt market with brands such as Activia, Actimel and Oikos. WhiteWave, which makes Land O'Lakes butter and Silk soymilk, also produces yogurt under the Horizon Organic and Wallaby brand names. Danone says it expects to close the WhiteWave acquisition "promptly." D.A. Davidson senior analyst Eric Gottlieb said, "This is a step in the right direction. This is just something to get this deal done." WhiteWave shares rose at the market open, adding on to its 1 percent gain this year. Danone shares traded lower.