Danone & Chiquita Team Up

In a move expected to expand its reach in Europe, Danone has entered a joint venture with Chiquita Brands International, Inc. to market fruit-based drinks based on Chiquita’s Just Fruit in a Bottle platform. The joint venture will provide Danone with a platform to explore and develop fruit-based products, adding to its existing portfolio of healthy fresh dairy products and extending its potential for growth in Europe. Under the terms of the agreement, Danone will pay an undisclosed amount in cash to Chiquita for a 51% interest in—and management control over—the joint venture. Chiquita will license its trademark to the new entity.