Hedge fund chasing Danone

Date: 20.01.2021Source: Financial Times


Bluebell Capital Partners, a London-based hedge fund founded by Francesco Trapani, the former head of Bulgari, has acquired shares in Danone. It is calling for the replacement of chief executive Emmanuel Faber due to the “disappointing” share performance. The fund also pointed out that total returns for Danone shareholders have lagged behind those of larger rivals Nestlé and Unilever since Faber took the helm in October 2014. Danone’s shares have risen 2.7 per cent since then, while Nestlé’s have risen 45 per cent and Unilever’s 72 per cent.

It is unclear how much Blue’s stake in Danone is. The fund is only obliged to disclose if it exceeds the 5 per cent threshold, which would also trigger a report to the French market regulator.

Roland Sossna / IDM

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