French food giant Danone has today (24 November) announced a deal to buy US frozen-yoghurt firm YoCream for US$103m.

The acquisition, expected to close by the end of the year, marks Danone’s entry into frozen yoghurt, which it described as a “fast-growing segment”.

The Activia maker added: “[The company] will also gain access to an away-from-home distribution network, in addition to its existing channels. The move reflects Danone’s strategy for expansion of the fresh dairy products market in the US, in particular by extending the times and places where its products are consumed.”

Shares in Danone on the Paris stock exchange were up 0.6% at EUR46.14 at 10:02 CET.

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By GlobalData