Danone would give the Michel et Augustin brand to Ferrero
French food company Danone is in exclusive talks with Italian chocolatier Ferrero to sell its Michel et Augustin brand, whose cakes, cheeses and cold meats are popular on French supermarket shelves.
“Michel et Augustin is a very popular brand, but it does not fit into our investment priorities in the framework of the Renew Danone strategy”
– stated the Deputy CEO of the Danone Group, Juergen Esser.
“This is the best way to create long-term value while creating opportunities for Michel et Augustin to grow under his leadership at Ferrero.”
The Michel et Augustin brand was launched in 2004 by entrepreneurs Augustin Paluel-Marmont and Michel de Rovira and was acquired by Danone in 2016 as part of Danone Manifesto Ventures.
Their products are sold in the markets of six other countries besides France.
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