Danone (DANOY) announced that it has entered into a definitive agreement to acquire a majority stake in Kate Farms, a U.S. business offering a wide array of plant-based, organic nutrition products for both medical and everyday needs. Kate Farms’ complementary products will enhance Danone’s specialized nutrition offerings, Danone said in a statement. Following the closing of the transaction, Kate Farms’ CEO, Brett Matthews, will serve as Chairman and CEO of Danone’s North American Medical Nutrition business. Kate Farms’ senior management will retain a minority stake in the combined business. The transaction remains subject to customary closing conditions, including regulatory approval.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DANOY:
- Danone price target raised to EUR 78.50 from EUR 70.70 at Berenberg
- Danone price target raised to EUR 75 from EUR 73 at Citi
- Danone price target lowered to EUR 78 from EUR 80 at Morgan Stanley
- Danone SA: Strong Growth Potential and Stability Justify Buy Rating
- Sell Rating for DANONE SA Amidst Underperformance and Market Challenges