FRANCE: Danone snaps up Algerian bottle firm
Groupe Danone has completed the acquisition of Algerian bottled water company Tessala from the Algad beverages group.
The French drinks firm will acquire a bottling plant as well as the rights to water source close to Alger with a production potential of over 500m litres per year, for an undisclosed fee.
The first bottles will be distributed during the summer under the Hayet brand in Algeria, where the premium water market is proceeding with over 30% annual growth.
It follows two recent Danone investments in the country, including a raised interest in dairy company Danone Djurdjura, and the creation of a new biscuit company in the Alger area.
"This acquisition is in line with the objective of strengthening the company's position in North Africa and Middle East, in particular helping to reinforce its position in Algeria through the presence of its three businesses," the company said.
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