Danone, owner of the Evian water brand, acquired a 50.1 percent stake in Sirma to expand in Turkey’s water market. No terms were disclosed.
Sirma has sales of almost 100 million euros ($131 million), Paris-based Danone said today in an e-mailed statement. The partnership agreement strengthens Danone’s bottled water business in Turkey, where it’s already present with Hayat.
Danone, the world’s largest yogurt maker, said the transaction will accelerate Sirma’s expansion in Turkey.