Danone, which was backed by European private equity firm Eurazeo for more than 25 years, said it picked up the business to expand its US operations.
YoCrunch had net sales of $110m and sustained double-digit growth in recent years according to a statement from Danone.
The sale is the latest from Catterton as it eyes the $1.5bn hard cap for its seventh major buyout vehicle.
AltAssets revealed in June that the firm had already hit its $1.2bn target and could end up 50 per cent larger than its sixth vehicle, which brought in $1bn in 2006.
Eurazeo announced in April that it would be exiting its stake in dairy group Danone more than a year ahead of schedule following a sharp rise in the company’s share price in the preceding months.
Eurazeo issued about 15.5 million bonds in the company for €700m in 2009, all of which could be converted into Danone stock.
The firm said it had received early conversion requests from bondholders following a continued rise in Danone’s share price, which was up by about 60 per cent since the bonds were issued.
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