JAPAN: Danone, Kirin and Mitsubishi in water venture
The Japanese drinks group, Kirin Beverage Corp., has formed a joint venture with Mitsubishi Corp. and the French food and drinks group, Danone, to market mineral water in Japan.
The initial purpose of the new joint venture company, which is to be capitalised at Y1.5 billion ($12.6m/€12.9m), is to import and market Danone’s mineral water brand, Volvic, and sell Kirin’s own mineral water brand. Mitsubishi is expected to support the joint venture’s marketing. Kirin said the three companies might also look at possible future collaborations outside Japan.
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