Danone is in exclusive talks with Italian confectionery group Ferrero about selling its French biscuit brand Michel et Augustin, which no longer fits into the French dairy company’s strategy.
No longer a priority
Danone had only acquired Michel et Augustin in 2019, three years after taking a minority stake in the company. The French brand is best known for its sweet and savoury biscuits, but also markets desserts and drinks. “”Michel et Augustin is a much-loved brand, but it falls outside of our investment priorities, in the frame of our Renew Danone strategy”,” Deputy Chief Executive Juergen Esser told Reuters.
Danone is now seeking to find a solution through a sale of the brand to CTH Invest, a Belgian holding company of Italian family-owned Ferrero. The producer of well-known confectionery brands such as Nutella, Kinder, Delacre and Tic Tac did not want to disclose any financial details.