 "Danone agrees to buy US food maker WhiteWave for USD 12.5 bn")
Yogurt giant Danone says it reached a $12.5 billion deal to buy American organic food maker WhiteWave, expanding the French company's foothold in health foods and the US market.
Paris-based Danone said in a statement today that it is paying $56.25 per share in the deal, 24% above WhiteWave's average stock value over the past month.
Danone hopes to finalise the deal by the end of the year, pending approval by shareholders and regulators.
Danone is one of the world's leading food companies, producing several dairy brands, baby foods and Evian water.
Denver-based WhiteWave, which went public in 2012, makes Horizon brand organic dairy products, coffee creamers and plant-based dairy alternatives such as Silk brand soy and almond milk.
