Danone has formally exited its Indian joint venture with the Wadia Group, selling its stake in biscuit maker Britannia Industries to the family-owned conglomerate. While the company has indicated that it intends to continue its...
French food giant Danone today (16 April) reported a 2.3% drop in first-quarter sales due to declining revenues at its dairy and water units.
Market analysts have predicted that the Wadia Group could buy the 25.48% stake held by Danone in the companies’ joint venture, Britannia Industries, for around US$200m.
Danone said that it will continue its trademark battle with the management of Wahaha after a Chinese court ruled against the French food giant yesterday (5 August).
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