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.
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