DIVE AWARDS
Turnaround of the Year: Danone
AUTHOR Lillianna Byington@lil_byington
PUBLISHED Dec. 3, 2018
Most recent earnings: Q3 sales reached $7.14 billion
Outlook: If Danone turns to M&A and product innovation in the better-for-you sector, it could see more financial and brand recognition in the coming year.
After years of struggling with yogurt sales and an overly broad portfolio, Danone has overhauled its business to better respond to changing consumer trends — placing it squarely in the middle of the growing demand for plant-based and better-for-you fare.During the last year, Danone has accelerated its organic growth, expanded its portfolio and announced plans to invest in start-up companies that have a healthier focus. These shifts have led to financial and brand growth unmatched by few competitors, earning it the title for turnaround company of the year.
Michael Neuwirth, a spokesman with Danone North America, told Food Dive the company has seen substantial growth in recent years as it has shifted its resources to the better-for-you market — highlighted by the recent acquisition of plant-based foods maker WhiteWave in 2017 for $12.5 billion. Neuwirth, who has been with the company for 20 years, said Danone has narrowed its focus by shedding pasta, beer, cookies and champagne brands…
FINISH READNG: Turnaround of the Year: Danone | Food Dive
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