Danone today (23 February) revealed it has made two transactions in the last week in Africa, a continent the French group dubs “a strategic region” for the company.
The company has snapped up Egyptian group Halayeb for Dairy Products and Juice and taken its minority interest in Fan Milk International – a Denmark-based business selling dairy and juice products in six west African states – to a majority shareholding.
Danone did not disclose how much it had paid for Halaye. It described the business as “specialised in fresh cheese”, which it said is “one of the most dynamic segments” in Egypt’s dairy sector.
The Activia maker now owns 51% of Fan Milk after a deal on Friday. Danone invested in Fan Milk in 2013, teaming up with The Abraaj Group, a private-equity firm focusing on emerging markets. Danone initially held 49% of Fan Milk, with Abraaj owning 51%, but Danone now has a controlling stake in the business.
The deals, announced alongside Danone’s results for 2015, follow a move in December to buy another 5% of Moroccan subsidiary Centrale Danone, a transaction that gave the company 95% of the business.
In June, meanwhile, Danone bought assets from Algerian fresh dairy company Trèfle.
More to follow