Groupe DANONE agrees to acquire 50% of Aquarius Water Co.

Groupe DANONE (NYSE: DA) has entered into an agreement to acquire 50% of Aquarius Water Co. Ltd, the largest HOD water company in China based in Shanghai.

Dec. 7, 2000

PARIS, France, Dec. 6, 2000 (PRNewswire) — Groupe DANONE (NYSE: DA) has entered into an agreement to acquire 50% of Aquarius Water Co. Ltd, the largest HOD water company in China based in Shanghai.

Aquarius Water Co. Ltd had sales of RMB 170 million in 1999. The company has a 55% share of the Shanghai HOD market and 650,000 active accounts, serving its customers through direct delivery and online through Internet.

Groupe DANONE will also acquire a minority stake in Shanghai Aquarius Online Sales Co. Ltd, which sells Aquarius water and which will sell other Danone products in the future in China.