The Paris based owner of Evian water and Activia yogurt, Danone, has entered into an agreement to purchase Happy Family, an American manufacturer of organic baby food. The move bolsters the fast expanding infant nutrition division of the company.
The purchase would involve 90% of Happy Family, which is based out of New York. According to a statement, the transaction is still subject to approval of regulatory authorities and would be finalized in the next few months. There was no mention of a price for the purchase from the statement issued by the French food conglomerate.
According to Felix Martin Garcia, the executive vice president of Danone Baby Nutrition division, "We plan to step up the development of Happy Family and its brands."
Happy Family was established back in 2006 and has captured a 4% share in the US baby food market. The company focuses on the use of organic ingredients in its products, has generated gross sales amounting to US$60 million from products ranging from brown rice baby cereal and breakfast drinks.
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