Danone has announced that it has held talks with the express purpose of buying a share of premium French food company Michel et Augustin.
Should the negotiations be successful, Danone would acquire a minority holding in the firm, along with the founders of Michel et Augustin, and Artémis.
'Michel et Augustin is a French company that designs and markets an innovative, premium range of biscuits, dairy products, fresh desserts and beverages,' Danone said in a statement.
'In just a few years, it has carved out a solid position in France, leveraging a unique model built on an original entrepreneurial adventure. In 2015, sales totaled around €40 million, a steep rise from 2014.'
'Danone’s expertise would provide strong support to Michel et Augustin, accelerating its international development—particularly in the United States—while maintaining its originality,' the food multinational added.
This would be the first deal by Danone Manifesto Ventures, the company's newly created corporate venture capital unit based in New York, which will be fully operational in autumn 2016.
© 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.
