PARIS: French dairy giant Danone said on Thursday it had agreed to buy US organic foods producer WhiteWave Foods with a view to creating a world leader for organic produce.

The all-cash transaction values the US company at $12.5 billion (11.3 billion euros) and will allow Danone to double its business in the US, the French group said in a statement, adding it expected to finalize the deal by the end of the year.

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