Danone strikes Argentina dairy JV

Danone has placed its dairy business in Argentina into a new venture with local food group Arcor. The moves comes after the companies acquired outright Argentinian group Mastellone Hermanos, which owns the local dairy business La Serenísima. Danone and Arcor already owned 49% of Mastellone Hermanos through two separate shareholdings held by their existing venture – Bagley – and by Arcor itself. The partners have acquired the remaining 51% in Mastellone Hermanos from the Mastellone family and the Dallpo ...