Danone and Wahaha agree to end joint venture

by FoodBusinessNews.net Staff
Share This:

PARIS — Groupe Danone on Sept. 30 said it will exit its joint venture with China-based Wahaha Group, effectively settling a long-running dispute.

As part of the settlement, Danone has agreed to sell its 51% stake in the Danone-Wahaha joint venture to Wahaha.

"The collaboration between Danone and Wahaha helped to build a strong and respected leader in the Chinese beverage industry," said Franck Riboud, chief executive officer and chairman of Danone. "We are confident that Wahaha will continue to be highly successful under its future management guidance. Danone has a long standing commitment to China where it has been present since 1987, and we are keen to accelerate the success of our Chinese activities, in keeping with our mission of bringing health through food to the largest number of people."

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.