Danone said it was prepared to spend a total of €1bn ($1.5bn) on acquisitions as the world’s largest yoghurt maker reported better than expected third-quarter sales and confirmed full-year guidance.

Pierre-André Terisse, the group’s finance director, said the Paris-based company aimed to accelerate growth in new markets, partly through small- and medium-sized acquisitions, which he defined as worth up to a total of €1bn.