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Article: Danone raises stake in Danone Djurdjura.(DANONE Group)

Article from:
Nutraceuticals International
Article date:
May 1, 2006
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France-headquartered Groupe Danone has signed a letter of intent to raise its interest in Danone Djurdjura from 51% to 95%. This agreement reflects Danone's strategy of strengthening its position in North Africa and the Middle East, the firm notes.

With annual per capita consumption of fresh dairy products in Algeria averaging only 7 kilos, compared with 23 kilos in western Europe, the Algerian market offers promising scope for development. The average annual growth for the last three years has been in the order of 20%. Danone Djurdjura currently leads the Algerian market in fresh dairy products with an around 40% share.

The company reported sales over ...

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