Danone Sells Stonyfield Yogurt to Lactalis for $875 Million

Danone agreed to sell the Stonyfield organic yogurt brand to Lactalis for $875 million in a deal that U.S. antitrust authorities required as a condition for approving the French food company’s $10 billion acquisition of soy-milk maker WhiteWave Foods Co.

The price was slightly higher than expected, according to Kepler Cheuvreux analysts, and represents 20 times the unit’s earnings before interest, tax, depreciation and amortization.

Lactalis, the French dairy producer that controls Parmalat, is expanding its U.S. business with the yogurt brand after General Mills Inc. beat it to buying Yoplait in 2011. Stonyfield, founded in 1983, has been a ...