Else Nutrition Shares Rally With Plans for Danone Collaboration
13 Novembre 2023 - 5:04PM
Dow Jones News
By Robb M. Stewart
Else Nutrition's shares soared Monday after the company unveiled
plans for a collaboration with Danone that will initially see its
plant-based, soy-free products added to the dairy giant's
portfolio.
In morning trading, the shares were 35% higher at C$0.44,
narrowing their decline so far this year to 20%.
Else, which has been pushing to get its products on store
shelves in North America and elsewhere, said that following due
diligence by Danone the companies signed a letter of intent for a
staged collaboration. They expect to sign a definitive deal by the
end of March.
Initially, Else's products will be manufactured, marketed and
commercialized by the European company. The companies plan to
negotiate opportunities beyond product commercialization.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
November 13, 2023 10:49 ET (15:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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