Danone to acquire Medical Nutrition U.S.A.
June 11, 2010
ENGLEWOOD, N.J. — Danone North America, Inc. will acquire Medical Nutrition U.S.A., Inc., a developer and distributor of nutrition-medicine products.
Danone will acquire all the outstanding shares of M.N.I. for $4 per share in cash for a total value of about $62.3 million.
“I am delighted that the M.N.I. team will be joining our Medical Nutrition Division, including Nutricia North America,” said Flemming Morgan, president of Medical Nutrition for Danone. “Because M.N.I.’s competencies and successful product lines are so complementary to ours, the combination of the two businesses will reinforce Danone’s leadership in Advanced Medical Nutrition and allow us to expand our reach and benefit the quality of life of more patients, particularly in the U.S.”
In 2003, M.N.I. introduced the concept of liquid protein supplements for elderly people in the long-term care market. The company’s range of product includes protein supplements and wound care support.
“The merger is a wonderful opportunity for M.N.I. customers, employees and shareholders alike,” said Frank A. Newman, chairman and chief executive officer for M.N.I. “The combination of Danone’s global reach and research in pediatric medical nutrition with M.N.I’s product leadership in nutrition medicine for the elderly in the U.S. represents a formidable coupling of complementary strengths that will benefit our customers and employees.”
The transaction is expected to close early in the third quarter.