DanoneWave: Public Benefit Corporation Promotes Positive Change
Danone created a giant
in the organic and natural foods industry with its recent $10.4 billion acquisition
of WhiteWave Foods. The new DanoneWave unit is now one of the nation’s top 15
food and beverage companies.
But the acquisition that
created DanoneWave also formed the largest “public benefit corporation” seen to
date in the U.S., according to Fortune.
By its charter, a public
benefit corporation seeks more than just profit and must balance the needs of
all stakeholders, not just shareholders. DanoneWave says its mission includes
promoting healthy eating, sustainable agriculture, water conservation, waste
reduction and animal welfare, in addition to earning profits.
DanonWave CEO Lorna
Davis tells Fortune, “In 10 years
time, people will say its inconceivable that business was done any other way,”
says Davis. “The notion that a company can only care about profit will be seen
as old-fashioned and irresponsible.”
