PORTLAND, Ore. — Danone will boost its yogurt business with its acquisition of YoCream International.
Danone offered to acquire YoCream for about $39.82 in cash for each share, or $103 million, YoCream said. The company said it expected the transaction to close before Dec. 28.
"This transaction benefits our shareholders by providing them with the opportunity to receive a significant premium for their YoCream shares, and joining the Danone Group represents a natural progression in our corporate achievement to provide healthful live and active cultured frozen yogurt to consumers in the United States and abroad," said John Hanna, co-founder and CEO of YoCream. "We have continued our strong track record of innovation in this category and appreciate that Danone has recognized our leadership role for frozen yogurt in the food-service industry."