INDIA: Danone ends Wadia deal to go it alone
Danone has said it intends to pursue growth in India independently, after announcing the end of its joint venture in the country with Wadia Group.
After 13 years of an often turbulent partnership with India's Wadia Group, Danone said today (15 April) that is exiting the two firms' biscuit joint venture, Britannia.
The French dairy and water giant said it has agreed to sell its 50% stake in Britannia to Wadia. Financial details were not disclosed.
At the same time, Danone said that it intends to focus on growing consumer demand for health and wellness in India, but will do so "autonomously".
Danone president and CEO Franck Riboud said that the firm is "more than ever" determined to focus on health trends in India and plans to launch several of its own brands in the country "in the coming years". He did not name specific brands.
The move marks the end of one difficult joint venture partnership for Danone in one of Asia's most promising markets. Danone had become embroiled in a dispute with Wadia over the Tiger biscuit brand in India.
Separately, Danone is still fighting legal battles against its Chinese joint venture partner, Wahaha. Danone alleges that Wahaha illegally copied brands and sold them outside of the venture.
The dispute, which has raged from courtrooms in China to the US and the British Virgin Islands, is currently being heard by an arbitration court in Sweden.
A spokesperson for Danone in China told just-drinks today (15 April) that a ruling is expected in July.
There is always a bubble inflating somewhere. Right now that somewhere appears to be the soft drinks market. Intense interest among Japanese buyers has created an opportunity for US private-equity fir...
Today (15 July) is known as St Swithin's Day in the UK. According to folklore, if it rains on St Swithin's Day it will rain for the next 40 days in succession.* The British are, of course, fixated by ...
Danone said yesterday (30 September) it has agreed to sell its 51% stake in a joint venture with China's Wahaha, bringing to an end their long-running dispute and years of court battles across the glo...
Danone's trademark dispute with Wahaha may have ended, but the fallout from the one of the most long-running and high-profile disputes between joint venture partners in the drinks sector will not disa...
Danone has agreed to sell its 51% stake in a joint venture with China's Wahaha, bringing to an end their long-running dispute....
Danone Waters of America has partnered with fashion designer Paul Smith to launch a limited edition Evian bottle for the US market....
Suntory Holdings seems to have its hands full at the moment. Not only is it in merger talks with Japanese rival Kirin Holdings, but it is now close to a deal to buy the French soft drink brand Orangin...
In 1996, Hangzhou Wahaha Group Co, a leading beverage producer in China, began a joint venture with Danone Group to form five new subsidiaries....
- Key trends for the alcohol category in 2017
- Heineken goes from strength to strength - Analysis
- Key trends for the beer category in 2017 - Focus
- Heineken 2012-2016 - results data
- Interview Berry Bros & Rudd CEO Dan Jago - Part I
- Beam Suntory revamps Bowmore whisky packaging
- Bacardi lines up Canadian bottling plant closure
- Pernod unveils new St Patrick's Day Jameson bottle
- Asahi Group lifts 2016 sales, profits
- Non-alcoholic Heineken set to hit Europe - CEO
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends