May 2, 2022 |
Chilean beverage company Compañía Cervecerías Unidas (CCU) said Friday that its Argentine unit agreed to buy a 49% stake in an Argentine beverages producer from French food company Danone, a latest move to step up investment in Argentina.
CCU bought the shareholding in Aguas Danone de Argentina through CCU Argentina, according to a securities filing.
The alliance will help "strengthen both companies in a highly competitive market," Danone said in a statement.
Danone markets the Villa del Sur and
Chilean beverage company picks up 49% of the French food company's bottled water subsidiary in Argentina