Kraft offers $7.2 bn for Danone's cookie
Kraft Foods has made a $7.2 bn offer for Danone's biscuit business, looking for growth outside the US.
By INDIATIMES NEWS NETWORK |
MUMBAI: Kraft Foods has made a 5.3 billion euros ($7.2 billion) offer for Groupe Danone SA's biscuit business, looking for growth outside the US.
Paris-based Danone said it's in exclusive talks with Kraft and an agreement may be reached by the fourth quarter of this year, reported Bloomberg.
The purchase would give Kraft the biggest market share in France, Italy and Poland.
Danone's biscuit division reported sales of about 2 billion euros last year.
The company has focused on health-enhancing yogurt brands and emerging-market beverage sales, which are growing faster than the biscuit unit.
The sale excludes Danone's stakes in biscuit businesses in India and Latin America.
Paris-based Danone said it's in exclusive talks with Kraft and an agreement may be reached by the fourth quarter of this year, reported Bloomberg.
The purchase would give Kraft the biggest market share in France, Italy and Poland.
Danone's biscuit division reported sales of about 2 billion euros last year.
The company has focused on health-enhancing yogurt brands and emerging-market beverage sales, which are growing faster than the biscuit unit.
The sale excludes Danone's stakes in biscuit businesses in India and Latin America.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
