French food giant Groupe Danone has announced that it has acquired 10.1% of the outstanding share capital of Australian dairy giant National Foods. The acquisition was made through its Singapore-based Asia-Pacific holding company, Danone Asia Pte Ltd. Danone said that it has acquired a shareholding in National Foods to broaden its strategic options in the Australasian dairy industry. With €580m (US$) in sales for year 2001, National Foods is Australia's largest publicly listed dairy company. National Foods' core activities are fresh dairy foods and milk, where it has leading brands and market shares in its domestic market.