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Monday, May 20, 7:23 AM Danone (DANOY.PK) says it will invest €325M ($417M) in separate deals with China Mengniu Dairy in an effort to return to the Chinese liquid milk and yogurt market. The French company will have an indirect interest of about 4% in China Mengniu Dairy through a joint venture with a goal of increasing its stake in the future. Comment! [Global & FX]
Monday, February 18, 9:16 AM Mission accomplished at Heinz (HNZ), Nelson Peltz can turn his attention to Danone (DANOY.PK), where his fund disclosed a 1% stake in November (Trian white paper). It'll be a familiar playbook - forget acquisitions and focus on cutting costs and returning cash to shareholders. Whether an activist investor can have as much impact in France remains to be seen. Comment! [Quick Ideas]
Tuesday, January 8, 7:26 PM Nestle (NSRGY.PK) is looking to sell nearly $1B of its Latin American assets in an effort to secure regulatory approval for its $12B purchase of Pfizer's (PFE) nutrition unit. The company is in the early stages of the process, with the assets potentially drawing interest from H.J. Heinz (HNZ), Danone (DANOY.PK), Abbott Laboratories (ABT) and Mead Johnson Nutrition (MJN). Comment! [Consumer, Global & FX, M&A]
Thursday, December 13, 2012, 7:03 AM Danone (DANOY.PK) initiates a cost savings plan to try to trim €200M ($259M) in expenses. The French company continues to suffer in Southern Europe with consumers flocking to cheaper dairy products. Comment! [Global & FX, Consumer]
Wednesday, November 21, 2012, 8:37 AM Mexican regulators reject Nestle's (NSRGY.PK) takeover of Pfizer's (PFE) baby foods business in the country, calculating it would give it a 71%-88% share of the market. Nestle, whose fifth largest market by sales is Mexico, says it will still try to resolve the regulators' concerns. Some sources say Danone (DANOY.PK) could be a potential bidder now for PFE’s Mexican assets. Comment! [Healthcare, Consumer]
Wednesday, October 17, 2012, 9:18 AM Danone (DANOY.PK) can't overcome faltering economies in Italy and Spain as consumers switch to cheaper yogurt alternatives. The company's dairy division saw revenue slow to a 0.7% pace with volumes dropping. The plight of Danone has implications for yogurt sellers such as General Mills (GIS) and Nestle (NSRGY.PK) if pricing in the sector gets pushed lower. DANOY.PK -4.1% in Paris trading. Comment! [Consumer, Global & FX]
Friday, October 5, 2012, 1:09 PM Kraft Foods Europe, which is now part of Mondelez International (MDLZ -0.4%), has agreed to buy the Vitasnella snack business in Italy from Danone (DANOY.PK +1.4%) for an undisclosed sum. DANOY.PK will keep Vitasnella's yogurt and businesses, allowing Kraft to focus on a booming snack sector that is growing faster than other consumer segments as people with a busy lifestyle snap up low-value food to eat on the go. 1 Comment [Global & FX, Consumer, M&A]
Tuesday, July 24, 2012, 1:38 PM The WSJ surveys the field of "medical foods" and supplements, which manufacturers say can be used to help sufferers of dementia. The advantage for companies is that they can avoid the rigorous FDA approval process and get a product to market much more quickly, although they then can't claim it helps cure illnesses. Companies involved include Nestle (NSRGY.PK) and Danone. Comment! [Healthcare]
Tuesday, July 17, 2012, 7:26 AM Growth in the yogurt market outpaced the rest of the U.S. food industry since 2010 and is expected to increase even faster over the next couple of years with consumers buying and production ramping up. The dairy product has hit consumers sweet spot with nutrition increasingly in focus, while companies eye the lush margins sellers can claim. Major yogurt players: PepsiCo (PEP), General Mills (GIS), Danone (DANOY.PK). 1 Comment [Consumer]
Tuesday, July 10, 2012, 3:49 PM A new joint venture between PepsiCo (PEP -0.3%) and German firm Theo Muller looks set to lead to a wide range of dairy products that will be available in supermarkets in the Northeast and Mid-Atlantic states. While PepsiCo brings to the table a strong brand and marketing muscle, Theo Muller boasts very popular products in Europe that can be adapted for U.S. markets. But it's also getting to be a crowded space, with both General Mills (GIS) and Danone (DANOY.PK) upping their bets into yogurt. 2 Comments [Consumer]
Monday, July 9, 2012, 6:58 AM PepsiCo (PEP) plans to enter the yogurt market in some states in the Northeast under a new joint venture with German firm Theo Muller. Yogurt sales are on pace to increase 9% this year, after recording a 7.5% gain last year, with Dannon (DANOY.PK) and Yoplait (GIS) the leading consumer brands. Comment! [Consumer, Global & FX]
Tuesday, June 19, 2012, 10:55 AM Danone (DANOY.PK) warns that strapped Spanish consumers switching to lower-priced food options will hit its results this year. CFO Pierre-Andre Terisse cut the projection for sales growth to 6.9% from around 5% and says margins will also be impacted by higher packaging costs for yogurt and baby formula. Danone trades down 7.2% in Paris, while peer Nestle (NSRGY.PK) is off 0.8%. Comment! [Consumer, Global & FX]
Friday, April 20, 2012, 10:31 AM Danone (DANOY.PK -2.3%), bidding along with Mead Johnson (MJN +1.8%), reportedly raises its offer for Pfizer's (PFE +1.2%) infant nutrition business to nearly $11B. Analysts say Danone needs the business or it will face a problem of how to expand. Nestle (NSRGY.PK +0.2%) earlier this week was seen closing in on a deal to buy the Pfizer unit for at least $9B. 1 Comment [M&A, Consumer, On the Move]
Wednesday, April 18, 2012, 9:57 AM Mead Johnson Nutrition (MJN -2.6%) and Danone (DANOY.PK) look like the losers for Pfizer's (PFE +0.5%) baby formula business, as PFE reportedly is near a deal to sell the unit to Nestle (NSRGY.PK) for at least $9B. MJN and Danone were said to have teamed up for a bid that may have been as high as $10B. Comment! [M&A, Consumer, On the Move]
Friday, February 24, 2012, 2:54 AM Mead Johnson (MJN) and Danone (DANOY.PK) land permission to jointly bid for Pfizer's (PFE) $10B infant nutritionals business, sources say. The two firms will go up against Nestle (NSRGY.PK) in the next auction round which closes March 5. (previously) 1 Comment [Consumer, M&A]
Friday, February 17, 2012, 1:14 PM Nestle (NSRGY.PK) and Danone (DANOY.PK) have submitted preliminary bids of ~$10B for Pfizer's (PFE) infant nutrition business, according to Bloomberg, in-line with the unit's estimated value. However, with the bids likely to face regulatory hurdles, Nestle is said to be considering making asset sales as part of any deal, while Danone is reportedly considering a joint bid with Mead Johnson (MJN). Comment! [Healthcare, M&A]

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