Danone 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.
One of the fastest-growing food companies in the world, Danone is present in over 120 countries on five continents. Its mission is to bring health through food to as many people as possible. In 2010 Danone had more than 160 production plants and around 100,000 employees, generating sales of €17 billion, of which half were in emerging markets. The group holds top positions in healthy food through four businesses: it ranks no. 1 worldwide in Fresh Dairy Products, no. 2 in Bottled Water and Baby Nutrition, and is Europe’s no. 1 Medical Nutrition company. Listed on Euronext Paris, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes DJSI Stoxx and DJSI World, ASPI Eurozone and the Ethibel Sustainability Index.
Wockhardt is a high technology global pharmaceuticals and biotechnology major with innovative multi-disciplinary research and development programmes. It has 5 research centres and 21 world-class manufacturing plants in India, USA, UK, France and Ireland.
Wockhardt has a multi-ethnic workforce of over 6500 people from 14 different nationalities.