A new bidder has emerged for Stonyfield Yogurt, the Londonderry, N.H., company that was put on the market by owner Danone Group.
Grupo Lala, a Mexican dairy company, is in advanced negotiations to buy Stonyfield, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. How much Grupo Lala is willing to pay couldn’t be learned, the Journal said.
Danone put Stonyfield up for sale in March in a bid to win antitrust clearance for its $10 billion acquisition of WhiteWave Foods Co., the maker of the Silk soymilk and Horizon organic milk brands.
Reuters reported last week that Inner Mongolia Yili International Group Co., China’s largest dairy company, was among the bidders for Stonyfield. A filing to the Shanghai Stock Exchange showed that the company was prepared to bid $850 million for Stonyfield, though it acknowledged that the bid may not be successful.
The Journal said Grupo Lala’s talks with France’s Danone could fall apart or the Mexico City-based company could be outbid by another suitor.