Groupe DANONE sells DS Waters to Kelso investment fund
The agreement with Kelso covers 100% of DS Waters equity and includes the purchase by Groupe DANONE of the interest held by Suntory Limited in DS Waters, in keeping with the terms of the sales option agreed earlier.
17/11/05 Under an agreement signed November 15, 2005, Groupe DANONE has finalized the sale of DS Waters to investment fund Kelso.
DS Waters was set up in November 2003 by combining the Home and Office Delivery (HOD) business of Groupe DANONE in the US with all operations of Suntory Water Group. The company's revenues come to nearly USD 800 million.
After a strategic review of development prospects on the local HOD market,
Groupe DANONE has decided to pull out of this segment in the US. This decision does not affect its development strategy for HOD water business in other parts of the world, notably in emerging countries including China, Indonesia and Mexico, where it is market leader.
The agreement with Kelso covers 100% of DS Waters equity and includes the purchase by Groupe DANONE of the interest held by Suntory Limited in DS Waters, in keeping with the terms of the sales option agreed earlier.
For DANONE, final conditions set for the sale of DS Waters will mean booking an additional one-time charge of around EUR 100 million net of tax for the second half of 2005.
Upcoming webinars
Unlocking your bakery potential with Tirláns dairy and oat ingredients
Tirlán
Navigating Consumer Demands and Regulatory Challenges
Roquette
Turning Compliance into a Competitive Edge in F&B: From Brief to Green-Light in Real Time
FoodChain ID & Centric Software
