Mead Johnson Nutrition, a global paediatric nutrition company, and SanCor Cooperativas Unidas of Argentina, a dairy producer in Argentina, are to form a joint venture that will bring innovative nutritional products to infants and children in Argentina.
The new joint venture (which would be owned 80% by Mead Johnson and 20% by SanCor) will develop dairy nutrition technology and provide science-based infant formulas and growing-up milks for babies and children. Working as an independent entity, it will develop and market products exclusively under the SanCor Bebe brand.
As a result of this alliance – as well as the combined marketplace experiences, insights and scientific research of the two companies – parents of babies and health care professionals can count on the continued availability and development of high quality, innovative paediatric nutrition products.
SanCor is an Argentinean dairy cooperative that was founded in 1938. Mead Johnson has been creating innovative infant and children’s nutrition products for over 100 years.
James Cornelius, Mead Johnson’s chairman of the board, said: “This alliance brings 73 years of SanCor´s experience and its strong brand portfolio and manufacturing capabilities together with more than a century of innovation in paediatric nutrition science from Mead Johnson.”
SanCor will continue to operate its core dairy products business, while Mead Johnson will consolidate its activities for milks through the new alliance. The joint venture does not involve any changes in SanCor´s ownership; both companies will contribute to the formation of a new team to lead the new business.
Steve Golsby, president and CEO of Mead Johnson, said: “We see this as a wonderful opportunity to partner with another great brand and to bring important and beneficial nutritional products to families and healthcare professionals in Argentina and the other Southern Cone countries. This significant investment demonstrates our strong confidence in the growth potential of the Latin American market, as well as the skilled workforce in Argentina.”
Source: Mead Johnson Nutrition
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