Chilean food firm Watt's has effected a takeover of Danone Chile, which is inclusive of the brand Calán, a production facility in Chillan, and all Danone Chile assets.
The deal is worth a reported $24 million.
A licence agreement has also been drawn up for the use of brands Danone, Danone Light, and Activia in Chile.
Watts’s CEO, Rodolfo Véliz Möller, says the agreement will be conducive to the development of the Danone brands in Chile on the part of both Watt's and Danone Chile’s parent company, Danone Fresh Products., according to DailyReporter.com.
It is anticipated that the deal will be completed in the coming months.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.