Danone exits joint venture with Mengniu in China

French Groupe Danone has agreed to terminate the joint venture with Mengnui, originally agreed in December 2006, as prerequisites for further investments have not been met within the agreed timeframe.

Both parties have also agreed that the termination of the joint venture will not affect future cooperation opportunities, such as the co-packing and distribution of yogurt under the BIO brand, according to Danone
As leaders in China and the global yogurt market respectively, Mengniu Dairy Group and Danone will actively explore future cooperation opportunities in the yogurt industry, it adds.