Kasper Jakobsen, Mead Johnson Nutrition’s chief operating office and Oscar Carreras, chairman of board of administration for SanCor Cooperativas Unidas of Argentina, met in Buenos Aires to officially establish a joint venture that will expand the availability of paediatric nutrition products across the Southern Cone of South America.
The venture unites a global leader in infant formula and paediatric nutrition with the leading dairy producer in Argentina for the benefit of infants and children across the region.
The new joint venture will develop, produce and market innovative pediatric nutritional products under the SanCor Bebé brand, which holds a position in the Argentine market. The business and the brand will benefit from the potent combination of the two companies’ expertise. Mead Johnson will provide clinical research, proprietary formulas and product innovation excellence, while SanCor will contribute its deep local market knowledge and high-quality manufacturing capabilities.
“Everybody wins with this transaction. Mead Johnson strengthens its presence and growth potential in South America, while SanCor is able to better leverage its outstanding manufacturing base and continue exploration of business opportunities in other promising categories,” stated Carreras. “More importantly, parents win with greater access to best-in-class products they can feed their children with confidence.”
Mead Johnson will invest 850 million Argentine pesos (approximately US$196m) for an 80% ownership interest in the joint venture. In 2011, SanCor’s turnover in the infant formula and children’s growing-up milk categories totalled nearly 300 million pesos.
Source: Mead Johnson Nutrition
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