FRANCE/SWEDEN: Danone and Skånemejerier set up Nordic JV
French dairy giant Danone and Swedish dairy cooperative group Skånemejerier said on Thursday they will set up a Nordic joint venture to produce and market both the groups' products on the Nordic market.Danone said it hopes the new cooperation will help it increase its Swedish sales by a whopping 50% to SKr60m next year, while Skånemejerier for its part said it aims for a sustainable growth of 20-30%.The parties had not yet decided on how large an equity base the new, as yet unnamed company would get. The business within the new company is planned to start almost immediately.The new pact will allow Skånemejerier to increase its share of high-value products by producing such products under the Danone brand, thus also increasing the product range which the group can offer the retail industry. Desserts will immediately be added to its product range.Skånemejerier's best-selling functional food product
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