Danone grows in Middle East and North Africa
the Egyptian Rachid group for the Egypt, Near and Middle East
region, in respect of its three core businesses, Fresh Dairy
Products, Biscuits and Beverages.
French group Groupe Danone has signed a partnership agreement with the Egyptian Rachid group for the Egypt, Near and Middle East region, in respect of its three core businesses, Fresh Dairy Products, Biscuits and Beverages. The Rachid group, founded in 1977, is a main Egyptian players in the field of consumer goods.
The joint-venture, in which Groupe Danone initially holds a 51 per cent interest, is to expand on a regional basis through acquisitions and greenfield projects. The partnership's first project will be the launching of biscuits operations in Egypt, under the LU brand. With 65 million inhabitants, 35 per cent of whom are below 15, Egypt represents a market of 80,000 tonnes of biscuits, offering a strong growth potential, Danone claims this week.
The Group has already developed a strong presence in this region, through investments in businesses with leadership positions : Morocco (Fresh Dairy Products and Biscuits), Tunisia (Fresh Dairy Products and Biscuits), Turkey (Fresh Dairy Products and Water), Israel (Fresh Dairy Products), Saudi Arabia (Fresh Dairy Products).
