Paris-based Danone is in talks to sell its bottled-water business to Japan’s Suntory Holdings Ltd.,
Bloomberg reported.
Both companies are family-controlled.
Danone’s bottled-water assets include the Evian and Volvic brands. The company wants to reach an agreement to sell the assets by the end of the year, according to the Bloomberg report. “The proceeds may then be used to fund a possible offer for Pfizer Inc.’s infant-nutrition business,” the article said. The report also noted that Suntory may be seeking to buy only the water operations in Asia.
Suntory bought Danone’s Australia and New Zealand drinks business in 2009, and the two companies had a U.S. water-cooler joint venture that ended in 2005, the Bloomberg article said. (Source: Bloomberg, Oct. 18, 2011.)
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