Groupe Danone

Danone breaks 15-year-old tie-up with Britannia, to sell 25% stake to Wadia Group

britannia-DanoneA Nusli Wadia group firm has finally settled its three-year-long dispute with French giant Groupe Danone SA over control of Britannia Industries.

Both partners ending their 15-year-old association have reached a deal under which the French company will exit Britannia and sell its 25.5 per cent stake. Danone's move to walk out the biscuits business in India comes more than a year after it globally sold its biscuits business to Kraft to focus on the dairy business.