Danone Raises Guidance After Closing WhiteWave Buy

Features Dow Jones Newswires

Danone, the world's biggest yogurt maker, raised its guidance for recurring earnings per share growth for 2017, days after closing its $10.4 billion acquisition of WhiteWave.

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The French company said it was now targeting double-digit recurring EPS growth at constant exchange rates, instead of a rise of "at least 5%" it had targeted in February when it didn't include WhiteWave.

Danone agreed to buy the U.S. organic-foods producer in a deal that more than doubled its North American business in its biggest deal for almost a decade.

Meanwhile, the company said its sales in the January-March period rose 3% to EUR5.46 billion, helped by organic growth of 0.7%. That performance was in line with the average estimates of analysts.

Danone on Thursday confirmed all of its targets linked to the WhiteWave deal, including $300 million in synergies.

Write to Nick Kostov at nick.kostov@wsj.com

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(END) Dow Jones Newswires

April 20, 2017 12:56 ET (16:56 GMT)