Blog: Danone to up stake in Moroccan dairy Centrale Laitière
Dean Best | 3 November 2014
Danone announced this afternoon (3 November) it would buy more shares in Centrale Laitière, taking its stake in the Moroccan business from 69.1% to 90.9%.
The French food giant is to pay EUR278m for the additional shares in a business in which it became the majority shareholder last year.
Danone has held a stake in Centrale Laitière since 2001 and sells dairy products in neighbouring Algeria and Tunisia.
The deal follows Danone's announcement on Friday of an agreement to take a 25% in Chinese infant formula producer Yashili International Holdings.
These two investments are further indications of Danone's interest in expanding in emerging markets.
The Yashili deal was welcomed by analysts who had been arguing Danone's M&A strategy should focus on smaller transactions, rather than the major transaction that has been the subject of a number of press reports - a move to buy US infant formula group Mead Johnson.
This week, Danone will take an in-depth look at the Yashili transaction and the speculation surrounding Mead Johnson.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Interview: "Disruptive" snack brand Hippeas
- Unilever buys US condiments maker Sir Kensington's
- Nestle organic growth slows but beats expectations
- Ice cream helps Unilever sales, food flat
- Suntory to offload Australia, New Zealand foods
- Dairy dampens Danone in Q1