FRANCE: Danone sells US arm DS Waters
French conglomerate Groupe Danone has sold US subsidiary DS Waters to investment fund Kelso for an undisclosed sum.
Groupe Danone set up DS Waters, which had revenues of almost US$800m, two years ago but has decided to pull out of the "home and office delivery" segment in the US.
"This decision does not affect [our] development strategy for HOD water business in other parts of the world, notably in emerging countries including China, Indonesia and Mexico, where [we are] market leader," the company said.
Groupe Danone added that the sale would lead to it booking a one-off charge of EUR100m (US$117m) for the second half of the year.
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