Danone has signed an agreement to acquire YoCream, the leading producer of frozen yogurt in the US, for $103m.
The transaction will enable the global yoghurt manufacturer to move into the frozen yogurt sector, which according to the company is a fast growing segment in the US.
The sale will also allow Danone to gain access to an away-from-home distribution network, in addition to its existing channels.
John Hanna, co-founder and chief executive officer of YoCream said "The company has been exploring various opportunities for continued growth for some time.”
He added that joining the Danone Group represents “a natural progression in our corporate achievement”.
YoCream is based in Portland, Oregon, with 2010 net sales estimated at approximately (US) $58m.
The sale is subject to standard regulatory approval and is expected to be closed by 28 December 2010.