Following its $12,5 billion acquisition of organic food producer WhiteWave foods Co in the US, global food company Danone increased its forecast for earnings per share (EPS) growth in 2017. The forecast was made despite the poor dairy sales in Europe and Brazil, which limited sales growth in the first quarter. Danone believes that WhiteWave’s products, which are in line with the shift in consumer preferences toward natural foods and healthier diets, will help it face challenging dairy market conditions in Europe and China.
CEO Emmanuel Faber said in a statement: “2017 is a year of construction that will strengthen Danone as an even more resilient company, best prepared to seize tomorrow’s opportunities.”. To read more, click HERE.
Published on Tuesday, 2nd May 2017 - 11:59