Argentina: Danone and Arcor form dairy joint venture

Danone, the French food and beverage firm, and Arcor, the Argentina-based food company, have announced a strategic alliance to create a 50:50 joint venture focused on the Argentinian dairy market. The agreement involves the acquisition of the remaining 51% stake in Mastellone Hermanos, the owner of the La Serenisima brand, from the Mastellone family and the Dallpoint fund.

The partners previously held a combined 49% share in the company, following an initial investment in 2015. The new venture will integrate Danone’s local dairy operations with Mastellone Hermanos and their shared logistics unit, Logistica La Serenisima.. Operating 11 production facilities, the business will produce a range of goods including milk, cheese, yoghurt and dulce de leche.

Danone CEO Antoine de Saint-Affrique said the alliance would “create a powerful growth platform with more opportunities for innovation, operational efficiency and greater reach”. Arcor President Alfredo Pagani noted that the project strengthens the firm’s “value proposition in the consumer food products market”.

Financial details of the transaction were not disclosed. The deal remains subject to regulatory approval.

Source: Danone / Just Food / Infobae / FoodBev