Danone is raising its interest in Centrale Laitière to 67% by acquiring part of SNI's shareholding for a total €550m.
Centrale Laitière, of which Danone has been a 29.2% shareholder since 2001, is a dairy product company with nearly 60% of the market in Morocco.
It has sales of around €600m in a fast-growing market and operates a large distribution platform with 30 storage hubs serving 70,000 points of sales.
This acquisition is subject to the approval of relevant authorities and is expected to be finalised by the end of 2012.
With a majority interest, Danone will fully integrate Centrale Laitière into its consolidated accounts, and the transaction will be accretive for Danone.
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