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Saint-Affrique said last month that there was “nothing wrong” with Danone’s businesses — dairy and plant-based products, infant formula and bottled water — a view he reiterated at Tuesday’s annual shareholder meeting.
“Our category portfolio is growing as it is in line with consumer’ expectations. We have no plan to part with them regardless of what rumours say”, Saint-Affrique said.
An April 20 report in business newspaper La Lettre A said unlisted French dairy firm Lactalis had for months been studying a possible full or partial takeover of Danone.
Saint-Affrique said that the key to boosting sales growth was improving execution, investing in worthwhile brands and innovation and disposing of underperforming assets.
