The French multinational food group Danone has taken control of Centrale Laitière, Morocco’s leading dairy products company.
Danone raised its stake in Centrale Laitière to 67 per cent by acquiring part of SNI's shareholding for a total €550 million.
Centrale Laitière’s products are sold throughout Morocco. The company operates four production sites with around 4,000 employees, and in 2011 reported sales of 6.6 billion dirhams. The company is market leader in three core businesses: milk, fresh dairy products and cheese.
Centrale Laitière also provides a steady income to hundreds of thousands of Moroccans working on farms, in dairy cooperatives and in food processing industries.
Danone has been a 29.2 per cent shareholder in Centrale Laitière since 2001, and is Morocco's leading dairy products company with nearly 60 per cent of the market. The Danone brand is already well-known in Morocco through products including Yawmy, Moufid and Activia, all sold by Centrale Laitière.
Danone said the current transaction represents a key step in its development in Morocco, and also confirms the strategic appeal of markets in North Africa.
The acquisition is subject to the approval of relevant authorities and is expected to be finalised by the end of 2012.
Paris-based Danone’s products are sold on five continents. The company has more than 180 production plants and around 100,000 employees, and in 2011, generated sales of €19 billion, of which more than half were in emerging markets. The group makes products in four categories: Fresh Dairy Products, Baby Nutrition, Bottled Water and Medical Nutrition.
