Danone to Sell Stake in Chinese Juice Business For €200m
Danone has agreed to sell its 22.98% shareholding in China Huiyuan Juice Group, which is listed on the Hong Kong Stock Exchange, for about Eur200m to SAIF Partners, a Hong-Kong-based private equity firm. Huiyuan holds a leading position in the fruit juice market in China.
The disposal is in line with Danone’s strategy to focus the activities of its Waters division on natural mineral and spring water based beverages.
Since Danone’s entrance in the Chinese market in the late 1980s, the company has built up successful positions in its four core categories – fresh dairy products, waters, baby nutrition and medical nutrition, which together operate 20 factories and employ 9,000 people in China. With a strong commitment to accelerate its development in the Chinese market, Danone will continue to focus on the growth opportunities of its four core categories in China.
