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Danone buys remaining shares in Clover SA
Groupe Danone SA has said it has bought the remaining 45% share it didn’t own in its South African joint venture Danone Clover for around €100m from Clover SA.
In a statement, Danone said Clover SA will continue to supply services to Danone Clover.
Danone Clover holds 44% of the market in South Africa, where it operates two production sites, the company said.
Bernard Hours, co-chief operating officer of Danone, said: “Partnering with one of the most attractive food companies in Africa has been a great adventure for Danone and has enabled us to successfully build a franchise with sustainable growth, not just in South Africa, but more broadly in the entire region (notably in Angola, Namibia, Mozambique).”
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