Danone Partners with Arcor to Create a Dairy Giant in Argentina
Danone and Arcor announce the creation of a joint venture dedicated to the Argentine dairy market, combining Danone's dairy activities in Argentina, Mastellone Hermanos SA, and their joint logistics subsidiary, Logistica La Serenísima. This alliance builds on more than twenty years of partnership between the two groups.
The joint venture brings together Danone's dairy activities in Argentina (Danone Argentina SA), Mastellone Hermanos SA, and Logistica La Serenísima. The integrated entity will have eleven production sites located in the region, producing milk, dulce de leche, cheeses, butter, cream, yogurts, and desserts. Danone Argentina SA has been present in Argentina for thirty years, while Mastellone Hermanos SA has been a landmark in the Argentine dairy market for nearly a century.
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Danone will exercise equal control within the joint venture with Arcor, based on a 50% stake. After the transaction is finalized, the joint venture will be accounted for in the Equity Accounted Investees of Danone's consolidated financial statements.
Conditions and Regulatory Approvals
The completion of the operation remains subject to customary suspensive conditions, including obtaining the necessary regulatory approvals.
SectorAgroalimentaire et boissons›Industrie alimentaire
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 13 936 millions d'euros
Quarterly revenue: 13 936 millions d'euros
Revenue growth: 1,4 %
Net income: 1 175 millions d'euros
Free cash flow: 852 millions d'euros
8 975 millions d'euros
Guidance from the release
Objectifs 2026 confirmés, en ligne avec l'ambition moyen-terme
Risks mentioned
Free cash-flow en baisse de -27,3 % à 852 M€ au S1 2026
Dette nette en hausse à 9,0 Md€ contre 8,4 Md€ fin décembre 2025
Effet de change négatif de -3,3 % sur le chiffre d'affaires publié
Opportunities identified
Objectifs 2026 confirmés : croissance comparable entre +3 % et +5 %
Finalisation attendue au S2 2026 des acquisitions MADE Group et Saputo Dairy Australia
Marge des Eaux en forte progression de +196 pb à 13,3 %
Outlook / guidance
Expected revenue: 28 374 millions d'euros
Management commentary: croissance du chiffre d'affaires en données comparables comprise entre +3% et +5%
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
