Danone to sell New Zealand-based biscuits maker Griffin s Foods

Danone has entered into an agreement for the sale of Griffin s Foods to Pacific Equity Partners for around NZ$385m (€184,6m). It is selling the biscuit and snack business in line with parent company Groupe Danone SA’s shift of capital to targeted higher growth biscuit markets in the Asia Pacific regions of China, India and Indonesia, the company said. Griffin s, New Zealand s leading biscuit retailer, posted total sales of NZ$176m (€84,6m) in 2005.