Delta ends Danone Agreement
Delta will stop distributing Danone’s products as from end 2005.
17/02/05 Delta Holdings is ending its commercial and equity cooperation with Danone group in Greece and has reached an agreement to acquire Danone’s 30% equity stake in Delta Dairy for a net price of €46m. Delta will stop distributing Danone’s products as from end 2005.
The net price of €46m was derived as follows: the agreed price for Danone’s stake in Delta Dairy was €62m while Delta Holdings will receive €16m from the termination of the commercial agreement with Danone, which included the distribution of 3 products (Danette, Danonito, and Actimel), contributing €16.2m in FY04 sales and accounting for 4.6% of Delta Dairy’s consolidated turnover.
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