Danone to Acquire Canadian Water Company Patrimoine Des Eaux

French food and beverage company Groupe Danone SA has agreed to acquire Patrimoine des Eaux, a Canadian provider of drinking water containers to homes and offices.

The terms of the agreement were not disclosed.

Patrimoine des Eaux is the third-largest company in its field in Quebec, distributing more than 18.2 million gallons of water annually, the companies said, adding that the move will bolster Danone's position as Canada's largest distributor of drinking water in containers.

Danone, one of the world's largest food and dairy producers, had annual revenue of US $14.17 billion last year.

Source: The Associated Press