French food group Danone is planning to enter the baby food market in Mexico, as it seeks acquisitions in fast-growing markets.
Mexico accounts for 5% of the group's sales, and Danone is already present in dairy and in water with its Banafont brand.
Danone chief financial officer Pierre-Andre Terisse said the company is looking at the possibility of entering the baby food market in Mexico.
"It's a priority market," Terisse added.
Danone plans to expand in six markets growing at double-digit percentage rates which include Mexico, Russia, Indonesia, China, the US and Brazil—that represent 37% of group revenue, Reuters reported.
Danone is the world's leading producer of baby food, a sector that represents 20% of group revenue. The group's baby food business has been driven by double-digit increases in the Asia-Pacific region, with Indonesia and China being the key contributors.
Danone, which competes with Nestle and Unilever, owns international brands such as Activia yoghurts, Evian and Volvic waters and Bledina baby food. It had 2010 sales of €17bn and has a market value of €28bn.