Danone Invests $40 Million in Canadian Boucherville Plant

9 Sep 2013 --- Danone in Canada has announced, alongside Ms. Pauline Marois, Premier of Québec, and Ms. Élaine Zakaïb, minister for Industrial Policy and the Banque de développement économique du Québec, a $40 million investment in its Boucherville head office plant for the production of its OIKOS Greek yogurt, with the support of Investissement Québec, which is contributing by means of a $5 million interest-free loan.

Building on the success of OIKOS, a brand that is increasingly popular with Quebec consumers, Danone has acquired leading-edge precision equipment that provides great versatility in the manufacturing and packaging of its product. "This investment not only confirms Danone's role as a major agent of economic development in Québec, but reasserts its leadership as the country's largest yogurt producer," said Nick Krzyzaniak, President and CEO of Danone in Canada.

"Today's announcement is further proof that Danone is firmly implanted in the community and plays an active part in the economic benefits of the region and of Quebec," said Muriel Pénicaud, member of the Danone Executive Commitee, General Manager Human Resources and Chair of the Board of the Danone Ecosystem Fund. "Beyond our business activities, we firmly believe that eating a yogurt a day is healthy for everyone," Ms. Pénicaud added.

"OIKOS, our Greek yogurt brand, is proof of our desire to give consumers products that are both healthy and delicious: this is why Danone is investing in this star product, this new nutritional trend. The production of the OIKOS brand at Danone's Boucherville plant is generating 25 direct jobs, 10 of which are a result of this $40 million investment as well as 250 indirect jobs," said Mr. Krzyzaniak. "More than ever, the announcement highlights the importance of Quebec in the development of Danone in Canada. And today, these technological advances and the economic benefits they bring, fill us with pride," he continued.

OIKOS was deemed "Best Canadian New Product" by the Retail Council of Canada. Inspired by Greek tradition, its manufacture involves a separation technique that produces a yogurt with a thick, creamy texture. This texture requires the use of approximately three times more milk compared with regular yogurt. This means that the protein content of OIKOS yogurt is twice as high, making it as satisfying as it is delicious.

Danone's mission is to contribute to the health of the greatest number of consumers by promoting, amongst others, the importance of eating yogurt daily. "We are gratified by this financial support, which will help us increase our activities in this direction," Mr. Krzyzaniak concluded.