Press release – April 12th, 2017
Danone Completes Acquisition of WhiteWave
Paris, France – April 12th, 2017 – Danone is pleased to announce that it has today completed its acquisition of WhiteWave. Under the terms of the merger agreement, WhiteWave shareholders will receive $56.25 per share in cash. In connection with completion of the transaction, the WhiteWave common stock has ceased trading prior to market opening today and will be delisted from the New York Stock Exchange.
Danone and WhiteWave will now combine their activities in North America to operate as a Strategic Business Unit, named “DanoneWave”. As previously announced, the combination will include Danone Dairy’s and WhiteWave’s current North American businesses under the leadership of Lorna Davis, who has been appointed Chief Executive Officer of the combined entity. Alpro will join forces with Danone Dairy as a key pillar of its new plant-based category, managed by Gustavo Valle, with the aim to expand and grow the plant-based category around the world.
“I am thrilled that we have completed the acquisition of WhiteWave”, said Emmanuel Faber, CEO of Danone. “Danone and WhiteWave are a perfect match to build a global leader leveraging consumer trends and expectations for healthier and more sustainable eating and drinking choices. With leading positions in some of the fastest growing, health-focused categories, this combination will drive our Alimentation Revolution, our business performance, and will accelerate our 2020 growth journey. I am convinced that the combined experience and capabilities of our new management team and the extensive preparation work done by the integration team since July will capture the great business opportunities ahead and fully deliver our synergy plan. I am therefore fully confident that we will drive strong value creation and deliver the attractive financial benefits we outlined last July. We now look forward to welcoming our talented new team members from WhiteWave”…
Finish reading: DANONE : Danone Completes Acquisition of WhiteWave