Yogurt giant plans to spend less on dairy advertising and shift focus to plant-based company WhiteWave Foods, their new acquisition.
Danone plan to cut costs over the next three years by $1.1 billion, according to an announcement at their 2016 annual results conference last week.
CFO Cecile Cabanis stated that the marketing budget would be particularly affected, motivated by reduced dairy demand and increased milk prices.
In July last year, Danone announced its acquisition of food company WhiteWave, who last week revealed that its total net sales were up nine percent from last year. WhiteWave are the parent company of several plant-based brands including Silk, So Delicious, and Vega.
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Klaus Mitchell is the Founder & Editorial Director of Plant Based News.
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