Food company Groupe Danone SA said that The Coca-Cola Co. will take full control of the joint venture that distributes water brands including Evian, Sparkletts and Dannon in North America

Food & Drink Weekly, May 2, 2005

Food company Groupe Danone SA said that The Coca-Cola Co. will take full control of the joint venture that distributes water brands including Evian, Sparkletts and Dannon in North America. Under a revised agreement, Coke will buy out Danone's 49 percent interest in the venture, which will continue to distribute Danone's bottled water brands, Danone said.

Under the revised agreement, Danone said, Coke will increase advertising spending for the flagship Evian brand by 20 percent over the next five years. Danone and Coca Cola declined to comment on the price of the transaction.