Groupe DANONE to Sell Sauce BusinessGroupe DANONE to Sell Sauce Business
July 18, 2005
Groupe DANONE to Sell Sauce Business
Groupe DANONE will sellto Heinz its sauce business known as HP Foods in the UK and Lea & Perrins inthe United States.
Under the terms of the agreement, Heinz will pay approximately700 million euros and will be licensed to use Danones Amoy brand in Europe,and Groupe DANONE will record a capital gain of more than euro 450 million on2005 accounts. The transaction is subject to relevant authorizations, proceduresand regulatory approvals.
In a statement, Danone said the sale is part of the companysplan to refocus its operations on its fresh dairy product, beverage and biscuitbusinesses.
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