Nestle Waters has acquired a stake in Yunnan Dashan Drinks Co., the largest bottled water brand in the southwestern Chinese province Yunnan.
Nestle announced the creation of the joint venture last week (8 February), and will see Nestle hold 70% of the equity and Shan Guoyong, the company’s founder and general manager, hold the remaining 30%.
Financial terms of the deal were not disclosed.
“The partnership was created with the objective of combining Dashan’s expertise for its products, its consumer understanding and entrepreneurship with Nestlé’s advanced technology, manufacturing excellence and marketing know-how, so we can better serve consumer needs in this important market,” a spokesperson for Nestle told just-drinks late last week.
Dashan is a privately-owned company with around 750 employees. It sells bottled mineral water under the Dashan brand.
Nestle Waters North America was recently given a US$4m low-interest loan by US the Government as an incentive to keep its headquarters in Connecticut.
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