FRANCE: Danone and AmBev in Salus buyout
Last Friday (15 September), leading French foodmaker Danone and the Brazilian drinks company AmBev and the signed an agreement for the acquisition of the major 57.34% stake in the capital of Uruguayan brewer Compania Salus. The acquisition, to be bought on the Montevideo Bourse in October, was made through a joint company, in which Danone holds the major 73.75% share.With 430 employees and two plants, Salus net sales totalled US$30m last year. The company controls approximately 42% of the Uruguayan mineral water market and is the country's second largest brewer with 24% of the beer market. Its flagship products are in the "Patricia" brand.The buyout of this market leader is part of AmBev's strategy for international expansion, and will reinforce Danone's presence in Latin America.
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