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Danone To Buy Minority Share In Michel et Augustin

By Publications Checkout
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Danone To Buy Minority Share In Michel et Augustin

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.

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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.

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