Dive Summary:
- Danone is acquiring Happy Family, the fourth largest baby food maker in the U.S.
- Happy Family specializes in baby food made from premium organic ingredients and, with 4% of the baby food sector and $60 million in gross sales, is expected to continue its growth in 2013.
- The deal will see Danone acquire over 90% equity interest with daily operations at Happy Family remaining unchanged and the two moms who formed the company--CEO and founder Shazi Visram, and COO and founding partner Jessica Rolph--remaining in charge.
From the article:
... “We are delighted with this acquisition in an innovative and fast-moving segment of the baby food market. Building on a business model that has proven its effectiveness, we plan to step up the development of Happy Family and its brands," said Felix Martin Garcia, executive vice president of the Danone Baby Nutrition division. ...