Deals
Danone Plans Biggest Shakeup in Years With Portfolio Review
- CEO Faber puts assets with $585 million of revenue up for sale
- Move comes after Danone sold $550 million Yakult stake
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Danone Chief Executive Officer Emmanuel Faber plans to trim underperforming businesses throughout the company’s portfolio as shares of the French yogurt maker languish near a six-year low.
The company is studying a sale of the Vega protein powder brand as well as a unit in Argentina, potentially getting rid of assets with revenue of 500 million euros ($585 million). Faber said Monday some divisions could cut 20% to 30% of the products they make. The stock rose 1.4% in Paris until a market-wide trading disruption on Euronext.