Danone to acquire stake in Michel et Augustin

Endaba Group

Danone has entered into exclusive negotiations to acquire minority stake in Michel et Augustin, the premium biscuit maker. Danone Manifesto Ventures is Danone’s newly-created venture capital unit based in New York, and this deal would be the first by its investment unit. In 2015, the biscuit maker earned annual revenue of €40m and the deal is expected to accelerate Michel et Augustin’s international expansion, particularly in the US, with the support of Danone’s expertise