Danone is to acquire an additional 21.75% interest in Moroccan dairy Centrale Laitière from SNI for an amount of €278m. The transaction will raise Danone’s equity stake in Centrale Laitière to 90.86%.
This operation follows a transaction in 2013 that made Danone Centrale Laitière’s majority shareholder.
Centrale Laitière is Morocco’s leading producer of fresh dairy products with market share of nearly 60%. Sales total around €500m in a fast-growing market and it has Morocco’s largest distribution network with 38 logistic units serving 75,000 points of sale.
Danone and Centrale Laitière have been partners in Morocco since 1953.
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