What you need to know about Aldi’s $6 billion acquisition of Dannon
Aldi is buying the U.S. snack food company Dannon, making it one of the biggest food and beverage deals in history.
The deal, announced on Tuesday, is worth about $6.9 billion.
Aldi is one of a handful of food companies that have already begun buying companies like Dannon.
The companies have bought food companies and food suppliers like Kraft, Subway, and Pizza Hut.
But this deal, like other large food companies, has yet to be approved by the Federal Trade Commission.
“I am pleased to announce that Dannon is joining our team as a strategic partner to help accelerate our transformation into a leading global retailer and food and drink company,” Dannon CEO David Mason said in a statement.
“The combination of the Dannon brand and our global network of suppliers will enable us to further transform the way people consume, purchase and manage food, which will make us a more global and trusted brand.”
Dannon’s acquisition of Aldi has been widely anticipated for years, but the announcement was made a few weeks after the deal was announced.
Denny’s CEO says he expects to get the scoop on the deal on Tuesday The deal is the latest in a wave of consolidation that has occurred in the food industry.
The consolidation has seen the food giant gobbling up companies like Panera Bread and Dunkin Donuts, as well as companies like Kraft and Subway.
Last year, Kraft agreed to buy Heinz for $619 million.
In 2018, Denny’s and Dunkins agreed to merge into a conglomerate that would be called DNB.
In 2021, DNB is planning to buy a majority stake in General Mills.
These mergers have made it harder for the likes of DNB to compete in the fast-food market.
Bubble-town chains like Panerai and Chipotle have also been struggling to stay relevant and compete in an increasingly competitive market.
The merger is likely to bring new customers to the company.
The Dannon deal is a significant coup for Aldi, which has been struggling for years to compete against fast food chains like Subway, Chipotle, and Panera.
It will be interesting to see how this acquisition plays out.
This is not the first time that a major food company has bought a food company.
Dannon bought the company in 2016 for $3.9B, making the deal the most expensive takeover in history at the time.
As of this writing, the price of the deal is $6,100 per share.