There’s big news in dairy land.
French yogurt and dairy giant Danone agreed to sell Stonyfield to rival Lactalis for $875 million.
Stonyfield is an organic yogurt producer based in New Hampshire. It was founded in 1983 and has gained an impressive following: Stonyfield sold nearly $400 million last year.
The Stonyfield deal will help tie a bow on Danone’s acquisition of organic food company WhiteWave Foods earlier this year. As part of that $10 billion deal, Danone agreed to divest Stonyfield in order to gain approval from the U.S. Department of Justice.
Danone bought WhiteWave to expand its U.S. portfolio and its presence in the organic foods market. Danone and WhiteWave collectively own a host of brands, including Danon, Oikos, Activia, Silk, Evian and Horizon Organic.
The Lactalis Group is a French dairy company that sells Galbani, Sorrento, and President cheeses.