Dive Brief:
- Danone has increased its stake in Moroccan dairy firm Centrale Laitiere as the French company seeks growth outside of stagnating Europe.
- Danone will pay approximately $348 million for an additional 21.75% stake in Morocco's largest dairy operator, giving Danone a 90.86% stake.
- The move comes four days after Danone said it would spend $550 million to boost its stake in China's Yashili International Holdings.
Dive Insight:
There's no surprise in seeing Danone on an acquisition spree. That's exactly what analysts have been looking for from the company.
Nor is it any surprise that those acquisitions are coming from all over the globe, except for Europe. Just hours after Danone announced it was investing more in North Africa came word that European officials were cutting the growth forecast for the continent's economy.
