Else Nutrition Pushes Staged Collaboration With Danone
13 Novembre 2023 - 3:27PM
Dow Jones News
By Robb M. Stewart
Else Nutrition has plans for a staged collaboration with dairy
giant Danone.
The company said Monday it signed a letter of intent that
initially will cover a license agreement where Else's plant-based,
soy-free products will be included in Danone's portfolio and be
manufactured, marketed and commercialized by the European company.
The company will negotiate opportunities beyond product
commercialization.
The letter of intent was agreed after Danone completed a due
diligence process, Else said. The companies expect to sign a
definitive agreement by the end of March.
Earlier this month, Else launched its plant-based
dairy-alternative drink for toddlers in the U.K., marking its first
push into the multi-billion-dollar European market. Else in
September began commercial production at a new U.S. facility in the
Midwest that it expects will support its manufacturing demand for
the coming years in North America, and last month it said its
ready-to-drink kids' shakes would hit the shelves at more than 100
stores of a Canadian grocery chain in the province of Ontario.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
November 13, 2023 09:12 ET (14:12 GMT)
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