Danone SA this week said it’s in exclusive talks with Italian confectioner Ferrero regarding the sale of Danone's Michel et Augustin brand, according to several news reports.
Michel et Augustin was founded in Paris in 2004 by grade school friends Michel de Rovira and Augustin Paluel-Marmont. It markets premium products including cookies and savory biscuits, all with an emphasis on real butter. While most are sold in France, the company is present in six other markets, including the U.S., primarily at Whole Foods and Amazon. Danone acquired the business in 2016.
"Michel et Augustin is a much-loved brand, but it falls outside of our investment priorities, in the frame of our Renew Danone strategy," Danone's group deputy chief executive Juergen Esser told Reuters.