Danone and Unimilk Finalise Merger
Danone and Unimilk have completed the merger of their fresh dairy products businesses in Russia and other CIS member countries. The new entity, controlled by Danone with a 58% equity interest and in which former shareholders of Unimilk own 42%, is the new leader for dairy products in the CIS area. Russia is now Danone’s largest market.
The board of directors of the combined business comprises three members, including the chairman, Andrey Beskhmelnitsky, representing Unimilk, and four members, including Bernard Hours and Pierre-Andre Terisse, representing Danone.
Filip Kegels, previously general manager of Danone Fresh Dairy Products in Eastern Europe and Central Asia, is in charge of operational management.
An integration committee has been set up to coordinate Danone and Unimilk teams during the integration phase and ensure that business targets are met. The new entity will be consolidated in Danone financial statements from December 1st, 2010.
