Danone, the world’s biggest yogurt maker, said it agreed to buy YoCream International Inc., a U.S. producer of frozen yogurt, for $103 million, adding distribution networks for restaurants and convenience stores.
Danone is offering about $39.82 in cash for each share, YoCream said in a statement. That’s 39 percent higher than the Portland, Oregon-based company’s most recent closing price. Danone expects to conclude the sale this year, the Paris-based company said on its website today.
“Danone is shoring up its presence in dairy products in a high value-added segment — U.S. distribution networks outside the home,” Francis Pretre, an analyst at CM-CIC Securitie, wrote in a note today. He has a “hold” rating on the stock.
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