French dairy giant Danone is to buy protein supplement maker Medical Nutrition USA, or MNI, for US$62m.
The Activia and Actimel maker said MNI will become part of its North American medical nutrition business Nutricia North America, which is based in Maryland.
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“Because MNI’s competencies and successful product lines are so complementary to ours, the combination of the two businesses will reinforce Danone’s leadership in Advanced Medical Nutrition, and allow us to expand our reach and benefit the quality of life of more patients, particularly in the US,” said Flemming Morgan, Danone’s president for medical nutrition.
Frank Newman, MNI’s chairman and CEO, said the deal was “a wonderful opportunity” for the business.
Danone’s Nutricia North America arm generated $70m in sales in 2009. MNI’s revenues in the fiscal year to the end of January stood at $16m.
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