Danone has agreed to sell its subsidiary in Chile to local food company Watt’s for CLP 16 billion ($24 million).
The deal includes all of Danone Chile’s assets, including a manufacturing plant in the city of Chillán – 55 miles east of Concepción – and the Calán brand, which includes lactose and non-lactose yogurts, probiotic drinks and flavoured milks.
Watt’s is a manufacturer of dairy products, beverages and ready-made foods – and is the domestic leader in the jam, juice, edible oil and margarine categories. It made profit of CLP 23.4 billion ($35.3 million) from CLP 386.2 billion’s ($581 million) worth of turnover in 2015.
The Santiago-based company has also signed a separate licensing contract with Danone for the Activia, Danone and Danone Light brands in Chile over the next 15 years.
It said that the acquisition would allow it to “combine the capabilities and strong local presence” of Danone’s brands in Chile with Watt’s innovation and know-how. The deal is expected to be finalised in the next few months, subject to customary closing conditions.
Watt’s CEO Rodolfo Véliz Möller said: “We are pleased to acquire this company and to achieve this long-term agreement with Danone, which will allow us to continue the work done so far by them in Chile. The products and brands of Danone are world leaders in quality, innovation and prestige, and it’s a source of pride for Watt’s to be associated with Danone – a leading global food company.
“[The acquisition is] ideal to support Watt’s growth strategy in the Chilean dairy market.”
Source: FoodBev
In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.
Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.
