Danone to acquire nutrition business of India’s Wockhardt Group
Posted: 2 August 2011 | Danone | No comments yet
Danone signed an agreement with Wockhardt Group to acquire its nutrition business…
Danone today signed an agreement with Wockhardt Group to acquire its nutrition business and thus entering the baby nutrition and medical nutrition markets in India.
Under the agreement, Danone will acquire Wockhardt’s nutrition business and brands as well as its related industrial operations from Carol Info Service (located in Punjab, India) for a total of approximately € 250 million.
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. With over 25 million children born each year, India is the fastest-growing infant nutrition market in the world.
In addition, the nutritional supplement brand Protinex will give Danone a strong foundation for developing its medical nutrition business.
The acquisition will provide Danone access to a distribution network with nationwide reach.
The closing of the transaction is subject to certain terms and conditions of this agreement.