Yili confirms looking at bid for Danone's Stonyfield - Just Food
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Yili confirms looking at bid for Danone’s Stonyfield

11 May 2017

China's Inner Mongolia Yili Industrial Group Co. has confirmed it is lining up a possible offer for US organic dairy business Stonyfield from French dairy giant Danone.

Yili confirms looking at bid for Danone’s Stonyfield

China’s Inner Mongolia Yili Industrial Group Co. has confirmed it is lining up a possible offer for US organic dairy business Stonyfield from French dairy giant Danone.

News of a possible deal emerged this week, when The New York Post said it had been told by “sources close to the process” that Yili had bid around US$850m to buy Stonyfield, which Danone is selling as part of a deal with local regulators on the company’s acquisition of US food and beverage group WhiteWave Foods.

A spokesperson for Danone told just-food yesterday (10 May) the group would not be commenting on the report.

However, in a stock exchange filing, Yili has said it is in “the preparatory stage” of the process but had yet to make a formal bid.

Dean Foods, the US milk supplier, is also still in the running to buy Stonyfield, according to a source quoted by the New York Post, although a spokesperson for the company told just-food: “It’s our policy not to comment on rumours or market speculation.”

Last summer, Danone announced it had struck a deal to buy Alpro and Silk owner WhiteWave for $12.5bn. In December, Danone sold a unit in Belgium to secure EU approval for its acquisition of WhiteWave. Danone completed the deal last month.