Danone sells stake in Griesson

French food giant has sold its 40% stake in German biscuit and cake products maker Griesson de Beukelaer.

The company’s Heinz Gries and CEO Andreas Land are now its only owners with 95% of Griesson de Beukelaer’s shares being owned by the Gries family, while Land holds the remaining 5%.
The move is in keeping with Danone’s decision to focus on its core business of beverages and milk products. The existing distribution collaboration will continue with Danone in Germany and Austria.