China’s largest dairy is in talks to buy America’s leading organic yogurt company, Stonyfield Farm, reports New York Post, Reuters and others.
Yili Industrial Group Co. is understood to have bid around $850 million to buy the Danone-owned Stonyfield and is now considered a favorite in the auction.
French food multinational Danone recently agreed to sell its US organic yoghurt business Stonyfield to get clearance for a proposed USD 10.4 billion acquisition of WhiteWave Foods.
The French company already owns California-headquartered organic yogurt brand Wallaby.