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Danone completes the sale of Frucor to Suntory
Danone Asia Pte Ltd, a subsidiary of Groupe Danone, has successfully completed the sale of its drinks subsidiary Frucor, based in New Zealand and Australia, to Suntory Limited, for an amount of over €600m in cash.
This divestment stems from Danone’s recent focus on natural mineral water and spring water-based beverages, and will allow the company to focus on its core business growth opportunities.
Frucor has estimated sales of €210m, and claims to be market leader in energy drinks throughout Australasia, and the second-largest non-alcoholic drinks company in New Zealand.
The company employs more than 600 people across New Zealand and Australia, and its brand portfolio includes fruit juices, fruit drinks, energy drinks, waters and soft drinks.
Groupe Danone acquired Frucor Beverages in January 2002, and also owns the Griffins business in New Zealand.
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