French dairy producer Danone has announced that it is investing $25 million in its Fan Milk facility in Ghana.
Danone acquired Fan Milk International, which produces and distributes dairy products and juices in West Africa, with Dubai-based private equity firm Abraaj Group in 2013.
This investment will allow for the development of three new production lines and will create 200 jobs for the region.
Product Development
The extension of the plant will also allow for the production of FanMaxx - a new vitamin-enriched yoghurt drink which will be launched in Ghana in June.
The yoghurt will have a four month shelf life and can be consumed at any temperature, which makes it particularly suitable for markets where refrigeration facilities are not always guaranteed.
"FanMaxx offers an innovative, healthy and nutritious yogurt experience, specially adapted to the market," said Stéphane Couste, managing director of Fan Milk Ghana.
Continued Growth
Danone created the Africa Division in 2015 to accelerate growth in the region, and it now accounts for over 5% of the company's turnover.
Overall, the group reported a 2.9% growth in like-for-like sales for 2016.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
