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Danone Advised to Sell Assets, Split Medical Nutrition and Early Life Nutrition Businesses -Le Figaro

--Danone should separate its medical nutrition and early life nutrition businesses that are currently managed under the same division, Jan Bennink, an advisor to American investment company Artisan Partners, told Le Figaro in an interview.

--Mr. Bennink told the French newspaper that Artisan Partners has advised Danone to sell 30% of activities in its water, dairy, and plant-based products divisions, and focus on its most profitable brands. Danone's Asian water brand Mizone would be better managed by another owner and the group should sell its milk and butter activities, he said.

--Artisan Partners--which has a stake of more than 3% in Danone--called for corporate governance and strategy changes at the French food giant last week, saying that the company's performance has lagged on almost every measure.


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(END) Dow Jones Newswires

February 17, 2021 10:48 ET (15:48 GMT)

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