Danone sells half of grocery division to Paribas

Article Abstract:

Danone SA had consolidated sales of some FF6.71 billion, during Jan-Sept 1997, an increase of 6.2%. Its European grocery sales declined by 2.9% but sales of dairy products increased by 2.8% and sales of beverages grew by 3.1%. Danone purchased a 20% share of the confectionary division of the Israeli company, Elite. The Campbell Soup Company have purchased Danone's soup division, Liebig, for FF1 billion and Paribas bank purchased Danone's grocery operation for FF3.9 billion. Industry experts predict Danone will sell other parts of its group, such as its German pasta company.

Mergers, acquisitions and divestments, Company Profile, Campbell Soup Co., CPB, Paribas S.A.

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CMA study identifies Czech opportunities

Article Abstract:

A study carried out by the German food promotion organisation CMA concludes that the Czech Republic's food industry will experience a period of rapid change as foreign investors buy up the myriad of small companies active in the market. It is expected that the period of consolidation will last between three and five years. The report states that 70% of the country's retail trade was government-owned in 1990, but this had fallen dramatically by end-1992.

Food Stores, Food and Beverage Stores, Czech Republic, Privatization, Privatization (Business)

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Danone chief denies rumours of packaging and beer disposals

Article Abstract:

French food group Danone has denied rumors that it is contemplating the sale of its beer and packaging units. Company chairman Frank Riboud has quashed the rumors that followed an announcement that Danone would focus on its core products of dairy, biscuits and mineral water. Riboud is to accompany French president Jacques Chirac on a visit to the Czech Republic in order to emphasize the importance of the East European market.

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