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Danone and Arcor have completed the creation of their joint venture in Argentina, combining Danone’s local dairy business with dairy group Mastellone Hermanos and logistics subsidiary Logistica La Serenísima.

The deal, first announced in March 2026, brings together Danone Argentina, which has operated in the country for three decades, with Mastellone Hermanos, a dairy business with almost 100 years of heritage in Argentina.

The transaction also brings Logistica La Serenísima, the companies’ shared logistics subsidiary, under the full ownership of the new joint venture.

As part of the agreement, Danone and Arcor will have equal control of the combined business, with each holding a 50% stake.

The transaction combines Danone’s dairy operations with Mastellone Hermanos, which is known for its La Serenísima brand and other local dairy products. Danone and Arcor previously held a combined 49% stake in Mastellone Hermanos and have acquired the remaining 51% as part of the transaction.

Danone said the partnership builds on more than 20 years of collaboration between the companies and is designed to create a more integrated dairy business in Argentina.

The companies said the new structure will leverage their respective scale and capabilities to accelerate innovation, improve operational performance and expand commercial reach across the dairy category.

The joint venture is expected to benefit from the combination of Danone’s international dairy expertise and Arcor’s established presence in the Argentine food market.

For Danone, the transaction forms part of its wider portfolio strategy as the company focuses on its three core categories: Essential Dairy & Plant-Based products, Waters and Specialised Nutrition.

The new joint venture will be reflected in Danone’s financial statements as an ‘equity-accounted company’ from 1 August 2026, based on its 50% shareholding.

Arcor, meanwhile, operates across consumer food products, packaging and agribusiness. The company describes itself as Argentina’s leading food company and has a significant presence across Latin America.

The partnership also builds on the existing relationship between Danone and Arcor through Bagley Latin America, their joint venture covering biscuits, alfajores and cereals.

The completion of the transaction strengthens the companies’ position in Argentina’s dairy market while bringing the La Serenísima brand and associated operations into the new jointly controlled structure.