INDIA: Danone mum over Britannia exit rumours
Danone has stayed tight-lipped over reports in India that it could sell its stake in Britannia Industries, India's largest biscuit maker.
Danone has been embroiled in a long-running spat with India's Wadia Group, its venture partner in the Britannia business, over trademark agreements linked to the business.
Wadia has accused Danone of breaking trademark contracts drawn up as part of the venture and has launched legal action against the French food giant.
The two companies have held a series of talks over the future of Britannia and speculation in India has grown that Danone could look to sell its 25.5% stake in the business.
A report in India's Economic Times newspaper today (21 January) claimed that two Wadia subsidiaries - Kalabakan Investments and Bombay Burmah Trading - are set to buy Danone's stake, in return for the Indian conglomerate dropping its legal action.
Officials at Wadia could not be reached for comment as just-food went to press. Danone, however, refused to be drawn on the reports.
"Discussions are still going on," a Danone spokesperson told just-food from Paris. "We have agreed not to make any comment."
Groupe Danone has appointed Dominique Poiroux as general manager of medical nutrition for its France, Eastern Europe, Africa, Middle East and Asia divisions....
just-food was at the CIES World Food Business Summit this week where many of this week's most-read stories emanated from. Elsewhere, we have seen IT problems for Sainsbury and the latest updates on Te...
just-food reports on the latest happenings at the CIES World Food Business Summit, where the food sector's leading figures have met to discuss the issues affecting the global industry. Read on to disc...
The fear of failure should not prevent business from embarking on sustainability projects, the chairman and CEO of French food giant Danone said today (19 June)....
Wimm-Bill-Dann Foods has said that it will resist future takeover moves from multinationals looking to expand in Russia....
The great and good of the food industry head to Munich today (17 June) for one of its leading annual conferences - the CIES World Food Business Summit - and just-food will be bringing you coverage liv...
The European Commission has approved Hero's acquisition of the Bledina infant nutrition licences in Belgium and the Netherlands from Danone....
Kraft Foods intends to open a manufacturing facility for its recently-acquired biscuit and pastry business in Russia....
- Danone's Q1: four things to learn
- Nestle Q1 update: four things to learn
- Column: Why snacking is the new meal
- Who will buy Danone's Stonyfield business?
- Interview: KP Snacks on growth strategy
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- Tyson to buy burger-to-entree firm AdvancePierre
- PepsiCo affirms full-year target as Q1 hits mark
- TreeHouse Foods sells soup, baby food units