DANONE Acquires 49% of Danish Bottled Water Company Aqua d’or
With annual per capita consumption averaging 22 litres in Scandinavia, as compared to 110 litres in Western Europe, the Scandinavian bottled water market offers promising scope for development.
20/09/06 This operation reflects Groupe DANONE’s strategy of developing positions in the Scandinavian water market.
Launched in 2000, Aqua d’or, with reported sales of around 20 million euros, recorded a growth in excess of 30% in 2005. N°1 in the still bottled water segment with a market share of 50% in value in Denmark, Aqua d’or is already n°2 on the same market in Sweden where it has recently taken a footprint on.
With its brands Aqua d’or and Denice, it has developed an enviable low and medium priced portfolio. The current management, which will hold 51% of equity, will continue to run the business.
With annual per capita consumption averaging 22 litres in Scandinavia, as compared to 110 litres in Western Europe, the Scandinavian bottled water market offers promising scope for development.
Franck Riboud, Chairman and CEO of Groupe DANONE, comments: “The Scandinavia water market is steadily growing and offers huge potential. This partnership with Aqua d’or, the local fastest growing bottled water company, will allow Groupe DANONE to benefit from its knowledge of the market as well as the distribution channels in the Nordic region. Besides, Aqua d’or portfolio and Evian product range are very complementary.”
Allan Feldt, Chairman and founder of Aqua d’or, comments “We are proud to partner with a leading company such as DANONE. It will allow Aqua d’or to capitalize on its expertise in Marketing, technology and supply chain to accelerate its development. At the same time, we will do our best to rapidly make Evian the no. 1 import water in Scandinavia.”
