AskBiography Logo   Latest News  Follow Us on Twitter  Follow Us on Google Buzz  Became Fan - Facebook  Subscribe to RSSRSS   Bookmark and Share

Wahaha Joint Venture Company

Company nameWahaha Joint Venture Company
Company typeprivate
Founded28 March 1996
HeadquartersHangzhou, China
Area servedChina
Key peopleEmmanuel Faber Chairman
ProductsDairy products, Water, Soft drinks
Revenue-100 million
Operating income5%
ParentGroupe Danone

     Home | Company | Wahaha

:This article refers to the Sino-French joint venture. For the Chinese holding company, please see Hangzhou Wahaha GroupThe Wahaha Joint Venture Company is a food and beverage joint venture company established between the Hangzhou Wahaha Group, the largest beverage producer in China, and Danone, one of the world's largest food conglomerates.

The companies have been partners since 1996 in a business model Forbes magazine hailed as a "showcase" joint venture.

As the businesses expanded and became more complex, Danone had made several attempts to buy out Wahaha, but was rebuffed. Danone and Wahaha's General Manager Zong Qinghou signed a deal in December 2006, allowing Danone to buy a majority stake in the non-JV operations. However, Zong had second thoughts about the deal and reneged, claiming the offer was underpriced. It is alleged that he wanted to squeeze a higher price out of Danone.

For a trademark dispute, Danone filed for arbitration in Stockholm on 9 May. On 4 June, Danone filed suit in Los Angeles Superior Court against Ever Maple Trading and Hangzhou Hongsheng Beverage Co Ltd, companies controlled by Zong's wife and daughter who run the two companies.

On 21 December 2007, Danone and the Chinese partner agreed to suspend their legal battle and resume negotiations.

Warning: simplexml_load_file( [function.simplexml-load-file]: failed to open stream: HTTP request failed! HTTP/1.0 410 Gone in /home/askbio/public_html/index_bio.php on line 257

Warning: simplexml_load_file() [function.simplexml-load-file]: I/O warning : failed to load external entity "" in /home/askbio/public_html/index_bio.php on line 257

Fatal error: Call to a member function children() on a non-object in /home/askbio/public_html/index_bio.php on line 260