Danone and Arcor have completed the creation of a new joint venture in Argentina.
The deal was first announced in March and brings together Danone Argentina, which has operated in the country for three decades, with Mastellone Hermanos, a dairy business with almost 100 years of history in the country.
The transaction also brings Logistica La Serenísima, a shared logistics subsidiary of the two companies, under the full ownership of the new joint venture.
Danone and Arcor will hold equal control of the combined business, with each getting a 50% stake.
Danone and Arcor previously held a combined 49% stake in Mastellone Hermanos and have acquired the remaining 51% as part of the transaction. The company is known for its La Serenísima brand and other local dairy products.
Danone said the alliance created an integrated business, leveraging the strengths and scale of both companies to deliver greater and faster innovation, enhanced operational excellence and increased commercial reach, which would benefit all Argentinian consumers.
The new joint venture is expected to benefit from the combination of Danone’s international dairy expertise and Arcor’s established presence in the Argentine food market.
The partnership builds on an existing relationship and another Danone-Arcor joint venture selling biscuits, alfajores and cereals.
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