Danone has taken a majority stake in Moroccan dairy firm Centrale Laitière.

The French food giant has upped its investment in Morocco’s “leading dairy products company” from 29.2% to 67% by buying part of the stake owned by Societe Nationale d’Investissement, a local holding company. The deal is worth EUR550m (US$683.3m).

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Danone has held a stake in Centrale Laitière since 2001 and sells dairy products in neighbouring Algeria and Tunisia.

Dairy processors are looking to expand in north Africa, where demand for dairy products has grown. Last year, The Irish Dairy Board said it would expand in Algeria.

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