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☆ Danone CEO downplays threat of weight loss drugs on food producers: 'We see ourselves as extremely complementary'
▼ + stars: | 2024-04-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Bloomberg | Getty ImagesThe CEO of French consumer goods giant Danone downplayed the threat of obesity drugs on its food business, arguing that consumers were likely to turn to healthy products as part of their new weight loss regime. Antoine de Saint-Affrique said that surging demand for drugs like Wegovy and Mounjaro would only increase consumer appetite for more nutritional products. "We see ourselves as extremely complementary to GLP-1s," de Saint-Affrique told CNBC's Charlotte Reed Wednesday. GLP-1s, or glucagon-like peptide 1 agonists, are the underlying class of drugs in weight loss injections such as Wegovy and Mounjaro. watch nowThe rapid rise of such drugs has prompted concern among food makers, who fear falling sales as consumer appetite wanes.

Persons: Antoine de Saint, Affrique, Mounjaro, CNBC's Charlotte Reed, de, Kepler Cheuvreux Organizations: Danone SA, Bloomberg, Getty, Danone, Novo Nordisk

This brings the total impairments related to Russia to almost 700 million euros, Danone said. The adjustment on the balance sheet of 500 million euros to reflect the negative currency transaction difference will also be recognized by Dec. 31, it added. Danone also reported a better-than-expected rise in quarterly like-for-like sales, as it increased prices again to make up for rising costs. Like-for-like sales rose 6.4% in the second quarter, beating expectations for 5.6% growth in a company-compiled consensus of 18 analysts. ($1 = 0.9047 euros)Reporting by Richa Naidu; Editing by Edmund Klamann, Muralikumar Anantharaman and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Danone, Richa Naidu, Edmund Klamann, Muralikumar Anantharaman, Conor Humphries Organizations: France's Danone, Danone, Evian, Nestle, Thomson Locations: Russia, Russian, Ukraine

According to a decree signed by Putin on Sunday, the Russian state had taken control of Danone's Russian subsidiary along with beer company Carlsberg's (CARLb.CO) stake in a brewer. Yakub Zakriev, 32, a deputy prime minister of Chechnya and the republic's agriculture minister, took the post of general director of Danone Russia on Tuesday, Interfax's SPARK database of company disclosure documents in Russia showed. "Choosing him as general director of Danone Russia shows that representatives of the team of Chechen President and Hero of Russia Ramzan Akhmatovich Kadyrov are talented and successful managers," Dudayev said on his Telegram messaging app. Kadyrov, a close ally of Putin, has referred on social media to Zakriev as his "dear nephew". Danone sought alliances with big local players during the boom years, eventually gaining at least a fifth of Russia's dairy market.

Persons: Kadyrov, Danone Russia Kovalchuk, Carlsberg, Ramzan Kadyrov, Vladimir Putin, Putin, Yakub Zakriev, Akhmed Dudayev, of Russia Ramzan Akhmatovich Kadyrov, Dudayev, Zakriev, Zulai, Akhmad Kadyrov, Kadyrov's, Danone, Yuri, Mikhail Kovalchuk, Bolloev, Guy Faulconbridge, Lidia Kelly, Shubhendu, Stephen Coates, Angus MacSwan Organizations: Danone Russia, Danone, Kremlin, Sunday, Chechen, Moscow State University, Cuban Missile, Soviet, Financial Times, Shubhendu Deshmukh, Thomson Locations: MOSCOW, Russia, Ukraine, Russian, Chechnya, Grozny, Paris, Red, Soviet Union, United States, China, Baltika, St Petersburg, Moscow, Melbourne, Bengaluru

☆ Putin ordered 2 Western corporate giants to be seized after Kremlin-friendly businessmen expressed an interest in them: report
▼ + stars: | 2023-07-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Putin ordered Danone and Carlsberg seized after Kremlin-friendly businessmen expressed interest, per the FT.A Chechen leader and a businessman close to Putin have taken over the companies' assets in Russia. Russia seizing the local operations of Danone and Carlsberg was not the first time the country took control of Western firms. Managers from Rosneft, a state energy company headed by Putin ally Igor Sechin, took over both energy companies. Independent Russian newspaper Novaya Gazeta reported on Thursday, Russian businessmen bought the assets of 110 Western companies "that have fully or partially left Russia" at bargain-bin prices. Danone said in a Sunday statement it was "preparing to take all necessary measures to protect its rights as shareholder."

Persons: Putin, Vladimir Putin, Moscow, Yakub Zakriev, Ramzan Kadyrov —, Taimuraz, Igor Sechin, Ekaterina Kurbangaleeva, Kurbangaleeva, Hassan Malik, Loomis Sayles, Danone, Carlsberg Organizations: Danone, Carlsberg, Kremlin, Observers, Service, Financial Times, Vedomosti, Rosneft, Analysts, Russia's, Independent Russian, Novaya Gazeta, Carnegie Endowment, International, Boston Locations: Russia, Wall, Silicon, Russian, Moscow, Ukraine

☆ Russia ramps up its economic war with the West as it seizes local operations of 2 corporate giants
▼ + stars: | 2023-07-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia escalated its economic war with the West by seizing local operations of Carlsberg and Danone. They marked the second seizures of Western assets since the Kremlin unveiled a decree in April. To slow the exodus of Western firms out of Russia, the Kremlin previously mandated a steep discount for any firms trying to sell their local operations as well as an exit tax. But the recent seizures of Western assets signal a continued escalation in Russia's economic war with the West, which imposed punishing sanctions on Moscow in 2022 for its war on Ukraine. Meanwhile, 523 of the major firms in the study have permanently withdrawn from Russia, while 503 firms have temporarily suspended operations.

Persons: Vladimir Putin, Germany's Uniper, Danone Organizations: Carlsberg, Danone, Kremlin, Service, Russian, Carlsberg Group, Danone Russia, Yale School of Management Locations: Russia, Wall, Silicon, Danish, Moscow, Ukraine

☆ Moscow takes control of Russian subsidiary of Danone and Carlsberg's stake in brewer
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, July 16 (Reuters) - The Russian state has taken control of French yoghurt maker Danone's (DANO.PA) Russian subsidiary along with beer company Carlsberg's (CARLb.CO) stake in a local brewer, according to a decree signed by President Vladimir Putin on Sunday. The decree said that foreign-owned stakes in Danone Russia and Baltika Breweries were being put under the "temporary management" of government property agency Rosimushchestvo. The move comes after the Russian subsidiaries of Germany's Uniper (UN01.DE) and Finland's Fortum (FORTUM.HE) were taken under state control in April. The decree published on Sunday also said that Danish brewer Carlsberg's stake in Russian-based Baltika Breweries had been put under state management. Carlsberg said in June it had signed an agreement to sell its Russian business, subject to regulatory approvals.

Persons: Vladimir Putin, Finland's, Danone, Carlsberg's, Carlsberg, Caleb Davis, Darya, Andrew Osborn Organizations: Sunday, Danone Russia, Baltika Breweries, Danone, Carlsberg, Thomson Locations: MOSCOW, Russian, Russia

☆ Danone raises 2023 sales outlook after price hikes boost Q1
▼ + stars: | 2023-04-26 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - Danone (DANO.PA) raised its 2023 sales growth outlook after it reported higher-than-expected first-quarter revenue on Wednesday, as the world's largest yoghurt maker was able to raise prices in the face of high raw materials and energy costs. Danone, maker of Activia yoghurt, Evian water and Aptamil infant milk said it expected like-for-like 2023 sales growth of between 4% and 6%, having previously forecast 3-5% growth. Danone said sales rose 10.5% like-for-like to 6.96 billion euros in the first quarter, beating expectations for 7.3% growth in a company-compiled consensus of 18 analysts. Danone, like its rivals Nestle (NESN.S) and Unilever (ULVR.L), has increased prices to cope with surging commodities and supply chain costs but faces a challenge when it comes to the extent of price hikes before even affluent shoppers decide enough is enough. Danone increased its prices by 10.3% during the quarter while sales volume remained positive, up 0.2%.

☆ How food giant Danone plans to cut planet-warming methane emissions by 30% this decade
▼ + stars: | 2023-01-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Danone aims to cut methane emissions across the farms supplying its milk by 30% this decade. Farming accounts for 40% of man-made methane emissions globally. Danone this week promised to cut methane emissions across the farms supplying its milk by 30% by the end of the decade. Cow burps, manure pits, and fertilizers make agriculture the top source, accounting for 40% of man-made methane emissions, the study found. As of December, the US Department of Agriculture had invested more than $3 billion in what it calls climate-smart projects, including for Danone dairy farmers.

[1/2] FILE PHOTO: Larry Fink, Chairman and CEO of BlackRock, arrives at the DealBook Summit in New York City, U.S., November 30, 2022. The major prize Bluebell has so far scored was at Danone, where it helped oust a chief executive. By comparison, the average activist hedge fund was down 14% for 2022 in November, according to Hedge Fund Research data. BlackRock has also not responded to Bluebell's request to shake up its board and review its environmental, social, and corporate governance (ESG) strategy. Even if Bluebell does not win concessions from BlackRock, it has at least bet on a company that has performed well in the past.

☆ Danone to withdraw from Russia with €1 bln write-off
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

French food group Danone logo is seen at the company headquarters in Rueil-Malmaison near Paris, France, February 20, 2022. REUTERS/Gonzalo FuentesPARIS, Oct 14 (Reuters) - French food company Danone (DANO.PA) said on Friday it would shed its dairy food business in Russia in a deal that could lead to a write-off of up to 1 billion euro ($978 million), the latest costly exit from the country by a global company. "This is the best option to ensure long-term local business continuity", Danone said in a statement, adding the Russian unit accounted for roughly 5% of the group's net sales in the first nine months of the year. Shortly after Russia's invasion of Ukraine in February, Danone had said that all options regarding its local business were on the table. read more($1 = 1.0224 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Tassilo Hummel; Editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

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