November 25/Portland, Ore./ADP News North America -- French dairy products group Danone has signed an agreement to acquire YoCream, a U.S. producer of frozen yoghurt, for $103 million (76 million euros). The acquisition should be finalized by the end of 2010.
The transaction will allow Danone to move into the frozen yogurt sector, a fast-growing segment in the United States. Moreover, the French company will gain access to an away-from-home distribution network, which will add to its existing channels.
The takeover reflects Danone's strategy for expansion on the fresh dairy products market in the U.S., the buyer said. YoCream is based in Portland, Ore., and its net sales for 2010 are estimated at nearly $58 million.
From the December 6, 2010, Prepared Foods E-dition