Danone (EPA:BN) said on Thursday it reached a $10bn deal to buy American organic food maker WhiteWave Foods Co (NYSE:WWAV), expanding the French yoghurt maker’s presence in health foods and the US market.
Danone is to pay $56.25 per share in the deal, 24% above WhiteWave's average stock value over the past month. Including debt and other liabilities, the value of the deal reaches $12.5bn.
Denver-based WhiteWave went public in 2012 and makes Horizon brand organic dairy products, coffee creamers and plant-based dairy alternatives such as Silk brand soy and almond milk.
Danone shares closed up 1.88% at EUR64.50 in Paris. WhiteWave shares were up 18.5% at $56.21 in New York.