Danone takes control of Aqua

Danone takes control of Aqua

PARIS (AFP): French group Danone said Tuesday it had signed a deal with Indonesia's Utomo family to allow it to take control of the bottled water manufacturer Aqua group.

The value of the deal, subject to approval by the Indonesian government, was not given.

Under the agreement, Danone would increase its stake in the firm to 74 percent from 40 percent previously.

"Aqua is a strong leader on the Indonesian water market, one of the fastest growing in the world," Danone said in a statement.

Aqua sales volumes grew 50 percent in 2000 to 1.8 billion liters (486 million gallons), and net sales amounted to 91 million euros (US$82 million) for the period, with "attractive profitability", it said.

Aqua, whose products have been sold under the brand Aqua Danone since 2000, was the largest packaged water brand in Asia and the second-biggest in the world, Danone said.