FDBusiness.com

Danone to Dispose of Stake in Wimm-Bill-Dann Foods

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Danone to Dispose of Stake in Wimm-Bill-Dann Foods

Danone to Dispose of Stake in Wimm-Bill-Dann Foods
August 12
11:26 2010

Danone has agreed to sell its 18.4% stake in Wimm-Bill-Dann Foods to the Russian food group for a total consideration of $470m. The agreement follows the recent announcement of the joint-venture between Danone and Unimilk in the CIS region. The deal is conditional upon Danone receiving the necessary regulatory approvals for the merger of its fresh dairy products operations in the CIS region with Unimilk.

Wimm-Bill-Dann will fund the transaction from existing resources and will not require additional financing. “This agreement represents the amicable conclusion of Danone’s investment in our company, an investment Danone has held since our IPO in February 2002. This announcement and the outright purchase of our own shares reflect our confidence in the fundamentals of the business and our strategy for the future,” says Tony Maher, chief executive of Wimm-Bill-Dann Foods.

Tony Maher, chief executive of Wimm-Bill-Dann Foods.

Founded in 1992, Moscow-based Wimm-Bill-Dann Foods has grown rapidly to become the largest producer of dairy, baby food and beverage products in its native Russia and the CIS. The group employs over 16,000 people across 37 manufacturing facilities in Russia, Ukraine, Kyrgyzstan, Uzbekistan and Georgia. In 2005, Wimm-Bill-Dann became the first Russian dairy producer to receive approval from the European Commission to export its products into the European Union.

Since 2002, Wimm-Bill-Dann Foods has been expanding its geographical footprint by acquiring successful businesses in Russia and the CIS, and investing heavily in modernising its production facilities. Its strategy is to produce its core products in the regions where they are sold.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements