By Robb M. Stewart

 

Else Nutrition has plans for a staged collaboration with dairy giant Danone.

The company said Monday it signed a letter of intent that initially will cover a license agreement where Else's plant-based, soy-free products will be included in Danone's portfolio and be manufactured, marketed and commercialized by the European company. The company will negotiate opportunities beyond product commercialization.

The letter of intent was agreed after Danone completed a due diligence process, Else said. The companies expect to sign a definitive agreement by the end of March.

Earlier this month, Else launched its plant-based dairy-alternative drink for toddlers in the U.K., marking its first push into the multi-billion-dollar European market. Else in September began commercial production at a new U.S. facility in the Midwest that it expects will support its manufacturing demand for the coming years in North America, and last month it said its ready-to-drink kids' shakes would hit the shelves at more than 100 stores of a Canadian grocery chain in the province of Ontario.

 

Write to Robb M. Stewart at robb.stewart@wsj.com

 

(END) Dow Jones Newswires

November 13, 2023 09:12 ET (14:12 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Danone (EU:BN)
Graphique Historique de l'Action
De Jan 2024 à Fév 2024 Plus de graphiques de la Bourse Danone
Danone (EU:BN)
Graphique Historique de l'Action
De Fév 2023 à Fév 2024 Plus de graphiques de la Bourse Danone