Danone is to invest up to EUR9m (US$11.8m) on the launch of a frozen yoghurt concept in Spain.
A spokesperson for the French food giant’s subsidiary in Spain confirmed to just-food today (2 May) the company will invest between EUR7m and EUR9m on the product. The launch is expected this month.
The spokesperson declined to provide any further information on the product or a date for the launch.
Last month, Danone warned analysts the performance of its dairy division in parts of Europe will continue to be weak for the rest of the year amid challenging conditions on the continent.
CFO Pierre-André Terisse admitted the company’s performance in Europe “looks a bit disappointing”.
“There are basically two reasons, one is deep pressure in markets where spending is impacting our business, particularly in Spain, but this has had an impact overall in Europe,” he said.