Danone CEO has no plan to sell any of its three businesses
Media reported merger interest from French rival Lactalis
27 April 2022
1 minute read
Danone's new chief executive Antoine de Saint-Affrique said on Tuesday the French food group has no plans to sell any of its three businesses, after its shares rose last week on a report of merger interest from dairy group Lactalis, reported Reuters.
Saint-Affrique said last month that there was "nothing wrong" with Danone's businesses -- dairy and plant-based products, infant formula and bottled water -- a view he reiterated at Tuesday's annual shareholder meeting.
"Our category portfolio is growing as it is in line with consumer' expectations. We have no plan to part with them regardless of what rumours say," Saint-Affrique said.
An April 20 report in business newspaper La Lettre A said unlisted French dairy firm Lactalis had for months been studying a possible full or partial takeover of Danone.
Saint-Affrique said that the key to boosting sales growth was improving execution, investing in worthwhile brands and innovation and disposing of underperforming assets.
Source: Reuters
