FRANCE: Danone Group acquires controlling stake in Argentina's Logistica Serenissima
Danone Group (NYSE: DA) is acquiring a 51% interest in Logistica Serenissima SA, a distribution subsidiary of Mastellone Hermanos SA, with effect from October 1, 2000. The move gives Danone Group operating control of the company; Mastellone Hermanos SA previously held 100% of equity, and will retain a 49% interest.Logistica Serenissima SA handles sales, warehousing and transport logistics for Danone SA dairy products, as well as milk and cheeses produced by Mastellone Hermanos SA. The company has 14 warehouses and over 1,000 employees.The partnership between Danone Group and Mastellone Hermanos SA, Argentina's market leader in milk and fresh dairy products, dates back to 1995, when the two created a joint venture of which Danone Group now holds 99.5%.The uncontested market leader, Danone Group generates fresh dairy product sales of nearly FRF 1.8 billion in Argentina.The current acquisition will give it direct control of business development at the 72,000 distribution points served by Logistica Serenissima SA. CONTACT: Laurent Lenaire of Danone Group, 1-44-35-33-15, firstname.lastname@example.org
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- UK's Bakkavor plays down IPO "speculation"
- Kellogg to slash 250 jobs
- Mondelez sells Vegemite to Bega