Newsletter

April 10, 2003

Groupe DANONE and EDEN SPRINGS have signed an agreement to create a joint venture, bringing together both groups' current and future HOD activities in Europe.

Initially, Groupe DANONE will hold a 53.2% stake in the new organisation (50% of the voting rights). Furthermore, Groupe DANONE has an option to acquire 100% of the company's capital, which it may invoke as from 1st January 2008.

Present in 18 countries, the joint venture will have the widest geographical coverage in the sector, with n°1 positions in 11 of the market's most dynamic countries (France, Spain, Switzerland, Finland, Norway, Sweden.) and strong local positions in Germany, UK, Italy and Poland. It will operate more than 350,000 coolers and will hold a 20% share of the European market.

The joint venture will be based in Lausanne, Switzerland, and managed by Mike Hecker, currently general manager of EDEN SPRINGS Europe, and the current board.

Created 5 years ago, Swiss-based EDEN SPRINGS has become a major player in the European HOD market. Its growth is founded on recognised operational expertise (notably in distribution and services) and ability to deploy and replicate a proven business model locally.

Groupe DANONE is the world leader in the HOD, with number one positions in volume in America and Asia.

Drawing on the combined strength and experience of the two groups, the new organisation will be in a position to rapidly develop its HOD activities to their full potential, in the most dynamic segment of the European bottled water market.