Logo of the Michel and Augustin biscuit factory
Danone announced on Wednesday that it had entered into exclusive negotiations with a company linked to the Italian company Ferrero regarding the potential sale of its Michel et Augustin brand.
With this operation, which could be finalized in the coming months, the French agri-food group says in a press release that it wants to “manage its portfolio rotation more actively”.
“Michel et Augustin is a very popular brand, but it does not correspond to the investment priorities defined by our Renew Danone strategy,” explains Danone deputy general manager for finance, Juergen Esser, in the press release.
(Writing by Tangi Salaün, editing by Zhifan Liu)