French-based dairy giant Danone, which is a major purchaser of Irish milk for its infant formula products, can go ahead with the acquisition of the WhiteWave Foods Company on the condition that the newly-formed group sells a large part of its so-called growing-up milk business for children aged between one and three in Belgium.

WhiteWave is best known in Ireland for its Alpro brand of dairy substitutes. It also manufactures organic dairy products and other GM-free and dairy-free brands in the US and in Europe.

Danone announced last July that it had agreed to buy WhiteWave for €12.5bn in cash, paying a 24% premium on WhiteWave’s traded value at the time. WhiteWave had €4bn in sales in 2015 and has seen its turnover grow by an average 19% annually since it was first listed in 2012.

Danone said that acquiring WhiteWave was a good fit for its 2020 target of focusing on “healthier, more sustainbale food”, and expand into North America. It added that “organic foods and beverages and non-GMO plant-based alternatives to milk and yogurt are among the fastest growing categories in the industry”.

Tesco to sell dairy-free cheese in Ireland

European Commission clears $12.5bn US merger for Danone

The European competition authority approved the takeover of US-based organic and dairy-free food manufacturer WhiteWave by Danone, subject to the sale of a Belgian business.