Shares in Danone rose more than 2% on Monday, after the multinational food and drinks group launched a review of its businesses and overhauled its management, in a bid to cope with disruptions caused by the COVID-19 pandemic.
Danone BN, -2.58%, which sells products that range from Danone (Dannon in the U.S.) and Activia yogurts to Evian bottled water, said it aimed to “rapidly reconnect” with its midterm goals, including delivering like-for-like sales growth of 3-5%.
To achieve this, it will carry out a full strategic review of its portfolio of brands, starting with Vega, the plant-based protein powders brand it acquired as part of its $10.4 billion takeover of U.S. organics food producer WhiteWave, as well as €500 million ($585.40 million) worth of assets in Argentina. Together, the two businesses account for about 2% of group sales.
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