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Danone to form health drinks' JV
8 March 2010: Groupe Danone is likely to formalise a JV with the Mumbai based Narang Hospitality Services for manufacturing, marketing and distributing nutritional beverages such as fortified water and juices in India.
Danone India, a wholly owned subsidiary of the French food group, will hold a minority stake in the JV company, Quarisma Beverages, which will be controlled by the Rs 300-crore Narang group.
Danone India already has a tie-up with Narang Hospitality for importing and distributing its premium packaged water brand Evian in India. Quarisma Beverages will takeover this business as well as Narang group’s existing premium packaged water brand Qua.
It will also manufacture, market and distribute a fortified functional water brand Qua Plus and launch a mass market packaged water brand in the first quarter of 2011 to compete with brands like Bisleri, Aquafina and Kinley.
Source: Economic Times