Shearman & Sterling is representing Danone in its pending acquisition of YoCream International, Inc., the leading producer of frozen yogurt in the United States. The aggregate purchase price for all of YoCream is US$103 million, which is subject to adjustment. The transaction is subject to the satisfaction of customary conditions and is expected to be completed by the end of 2010.
Danone is a Fortune 500 company and one of the most successful healthy food companies in the world. With 160 plants and around 80,000 employees, Danone has a presence in all five continents and over 120 countries. YoCream International Inc. is a world leader in the frozen yogurt industry, and since 1977, has pioneered the innovation, production and marketing of frozen yogurt in the US.
The Shearman & Sterling team was led by a New York mergers and acquisitions team comprised of partner Clare O’Brien and associates David Connolly, Richard Fischetti and Gregory Gewirtz. Other Shearman & Sterling lawyers involved in the transaction are partners John Cannon (New York-Executive Compensation & Employee Benefits), Laurence Bambino (New York-Tax), Samuel Waxman (New York-Intellectual Property Transactions), and Beau Buffier (New York-Antitrust); counsel Jason Pratt (New York-Property/Environmental); and associates Sean McGrath (New York-Executive Compensation & Employee Benefits), Frances Ma (New York-Executive Compensation & Employee Benefits), Ethan Harris (Washington, DC-Tax), Gloria Jung (New York-Intellectual Property Transactions), Tim Franklin (New York-Intellectual Property Transactions) and Kelly Karapetyan (New York-Antitrust).
