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The earnings were helped by the acquisition of the remaining 50% equity interest in DairiConcepts, a manufacturer of cheese, dairy ingredients and dairy flavor systems.
The dairy cooperative Dairy Farmers of America said 2016 sales fell 2% to $13.5 billion as net income rose 40% to $38 million. The retail and fluid milk/ice cream divisions also grew.
Nestle reported sales increased to CHF 65.5 billion for the first nine months of the year. Danone also reported that sales increased through three quarters of 2016.