Danone signs partnership agreement with Sirma and strengthens its position in the water market in Turkey
Posted: 6 May 2013 | Danone | No comments yet
Danone signed an agreement that will enable it to acquire a 50.1% interest in Sirma…
Danone today announced it had signed an agreement that will enable it to acquire a 50.1% interest in Sirma, one of the leading players in the Turkish water market.
Ranked 11th worldwide in volume, Turkey’s bottled water market grew by 20% in value in 2012. With reported sales of nearly 100 million euros, Sirma is active in plain and flavored bottled waters, and in HOD (Home & Office Delivery). Sirma is one of the market’s fastest-moving brands.
Danone is already present in Turkey’s water market with Hayat, and will benefit from the two companies’ strong complementarities in terms of brand positioning, geographical presence and distribution channels.
“Turkey is a strategic country for our division and we are excited at the prospect of joining forces with Sirma, whose founders and teams have done a tremendous job developing the water category in Turkey,” said Francisco Camacho, Executive Vice President of Danone’s Waters division.
“We are convinced that this transaction will accelerate Sirma’s expansion in Turkey,” declared Davut Disli, Chairman of the Board of Sirma.
This transaction is subject to the approval of the competent authorities, and is expected to be completed before the end of 2013