Danone Medical Nutrition acquires
The group Danone announced Friday the signing of an agreement for the acquisition of Medical Nutrition (NMI), an American company specializing in nutritional supplements for people under medical supervision.
The agreement provides that Danone will pay in cash approximately $ 62 million (51 million) to shareholders of MNI to acquire 100% of the group, Danone said in a statement.
The board of directors of American society has unanimously approved the merger, the CEO Frank A. Newman called "a tremendous opportunity for consumers, employees and shareholders of MNI.
Complementary products
The statement said the "strong complementarities" the two companies "in terms of product lines and distribution channels."Those would cater for the NMI especially the elderly, while those of Nutricia subsidiary of Danone, are primarily intended for infants.
NMI has recorded a turnover of 16 million dollars for the fiscal year ended January 31, 2010, multiplied by ten in seven years. Its activities will be integrated into medical nutrition division of Danone, which last year generated in North America 70 million dollars. Danone considers medical nutrition as "the most attractive category of food."