Nelson Peltz is learning how to say “shareholder activism†in French.
The investor plans to begin a campaign against Danone of France, having acquired a 1 percent stake in the French food maker, according to a person briefed on the matter.
It is Mr. Peltz's first foray into France. The country has proved largely inhospitable to activism in the past, buoyed by the clubby ways of the traditional Gallic business communities.
As with many companies, including at Lazard, Mr. Peltz is expected to call for cuts in spending, this person said. His campaign is aimed at bolstering the stock price, which has largely drifted downward: Danone's shares have fallen nearly 20 percent over the past five years, closing on Tuesday at 48.13 euros.
Danone, known as one of the world's biggest sellers of yogurt, has grappled with falling sales in southern Europe, warning in June that countries like Spain were showing lesser demand for its products.
Unlike other a ctivists, like Carl C. Icahn and William A. Ackman, Mr. Peltz tends to shy away from headline-grabbing battles with management. He is expected to support Danone's current executives, led by chief executive Franck Riboud, this person said.
News of Mr. Peltz's plans was reported earlier by The Financial Times online.
