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, email@example.com
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