Danone Quiet on Indian Milk Buy Talks

US - Danone on Tuesday remained tight lipped over the possibility of making an imminent acquisition into India's high growth dairy market, as part of the company's longstanding expansion aims for the country.
calendar icon 24 January 2008
clock icon 1 minute read
A spokesperson for the company refused to comment on claims, appearing this week in Indian-based newspaper The Economic Times, that it was in talks with local dairy group Keventer over acquiring a stake in it milk-processing operations.

According to the paper, Keventer chairman Mahendra Jalan confirmed that Danone was in discussions over the possibility of acquiring a "majority share" in their milk processing arm.

A representative for Danone last year told DairyReporter.com that the Indian fresh dairy market was a particular area of interest for the group, reflecting the growing importance of emerging markets like India to dairy processors.

The company also added that it has been present in Indian dairy production since 2005, when it entered into a joint venture agreement with Japan-based Yakult to push probiotic products onto the local market.

Any potential move to step up milk production in the country comes as demand for liquid dairy products (LDP) soars globally.

Source: foodnavigator.com
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