The Lactalis Group has entered into an agreement to acquire the organic yogurt maker Stonyfield from Groupe Danone, Paris, for $875 million. Danone’s divestiture of the Stonyfield business is part of an agreement the company reached on March 31 with the U.S. Department of Justice in connection with Danone’s acquisition of WhiteWave Foods.
According to Food Business News, Lactalis is a global dairy company with total sales of €17 billion ($19.3 billion). Cheese manufacturing is the company’s largest market and makes up 34% of sales. Yogurt and chilled dairy make up 12% of sales. While Europe is Lactalis’ largest market, the Americas make up 21% of the company’s sales.
With sales of $370 million in 2016, Stonyfield is a manufacturer of numerous yogurt varieties, including organic, grass-fed and soy. The company also manufactures frozen yogurts, drinkable yogurts, and milk and creams.
The transaction is expected to close during the third quarter of this year and must include final approval by the U.S. Department of Justice.
