French food conglomerate Danone said Tuesday it had agreed to buy Wockhardt's nutrition business and brands for 250 million euros ($355 million), gaining an entry into India's baby nutrition markets."The strong brand awareness of Wockhardt’s Dexolac, Farex and Nusobee baby nutrition products and their credibility with healthcare professionals will accelerate Danone’s entry into the country’s baby nutrition market," Danone said in a statement.With over 25 million children born each year, India is the fastest-growing infant nutrition market in the world, noted Danone, which makes the Bebelac infant formula.Danone, known best for its yoghurt as well as Evian water, said the deal would give it access to a distribution network that stretches across India.Despite being present in over 120 countries and generating half its sales in emerging countries, Danone has so far had little presence in India's large and fast-growing market.Its rival Nestle dominates the baby nutrition market with three-quarters of sales.Danone said under the deal it will also acquire the nutritional supplement brand Protinex that will give it a strong foundation for developing its medical nutrition business.An Indian-based pharmaceutical and biotechnology, Wockhardt employs 6,500 people worldwide and has 14 manufacturing plants in India, Britain, Ireland, France and the United States.
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline NikiMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor