Danone plans to acquire minority stake in Michel et Augustin

Michel et Augustin shareholders have entered into exclusive negotiations to enable Danone to acquire a minority interest in the company.

This is the first project for Danone’s new corporate venture capital unit, Danone Manifesto Ventures (DMV), which is based in New York, US.

Launched in 2004, France-based Michel et Augustin designs and markets a premium range of biscuits, dairy products, fresh desserts and beverages.

Last year, it recorded sales of approximately €40m.

Danone will be able to provide its expertise to support strong growth of Michel et Augustin by accelerating its international development, especially in the US.

DMV will become fully operational later this year.

Danone intends to use DMV to support the development of innovative companies that have high potential for growth.

The present acquisition remains subject to the information and consultation of Michel et Augustin’s employee representative bodies.

Danone expects to gradually increase its stake in Michel et Augustin.