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Tuesday, 04 April 2017

Danone buys 60% stake in Dairy Tanzania

Danone has agreed to acquire all of Brookside Dairy’s Tanzanian dairy business, less than three years after investing in a 40% stake. The buyout will be completed through Brookside Holdings – the wholly owned subsidiary that acted as a vessel for the French company’s acquisition of a minority stake in 2014. At the time, FoodBev reported that Brookside Dairy had annual revenues of €130 million and was East Africa’s leading dairy products group. Tanzania’s competition commission confirmed: “The FCC has received a merger notification to the effect that Brookside Holdings intends to acquire 100% of the issued share capital in Brookside Dairy Tanzania. FCC is currently investigating the intended acquisition in line with the provisions of the FCA and the FCC procedure rules.”

Source: Foodbev