Danone & Arcor forge new dairy powerhouse in Argentina

ARGENTINA – Danone and Arcor have announced a new chapter in their strategic alliance in Argentina, creating a joint venture focused on the local dairy market.

The new partnership will combine: Danone’s dairy business in Argentina, Mastellone Hermanos SA, a company with deep heritage in Argentina’s dairy market, spanning almost a century and Logistica La Serenísima, their common logistics subsidiary. 

Building on the pair’s over two-decade long partnership, this alliance will create an integrated business, leveraging the strengths and scale of both companies to deliver greater and faster innovation, enhanced operational excellence and increased commercial reach across the category, for the benefit of all Argentinian consumers.

The joint venture will also open new growth opportunities in the dairy market through its eleven production plants located in the region, where, among other products, milk, dulce de leche, cheeses, butters, creams, yogurts, and desserts are produced. 

Antoine de Saint-Affrique_, CEO Danone, said, “With this operation, we are delighted to take our long-term partnership with the Arcor group to the next level. This underlines our commitment to the Argentinian market and Latin America. 

“Combining our assets will create a powerful growth platform with more opportunities for innovation, operational efficiency and greater reach. It’s all about bringing healthy, quality dairy brands to more consumers in Argentina now and in the future.”

As a consequence of this transaction, Danone will hold equal control of the joint venture with Arcor, and post closing, it will be reflected within ‘equity-accounted companies’ in Danone’s financial statements based on the 50% shareholding.

This move follows a period of financial uncertainty for Mastellone Hermanos earlier in 2026. By forming this joint venture, Danone and Arcor are effectively stabilizing one of Argentina’s most critical food supply chains.

About Arcor
Arcor Group is a leading multinational with three business divisions: consumer food products, packaging, and agribusiness.

It is the leading food company in Argentina, the leading exporter of confectionery in Argentina, Chile, and Peru, and a leader in Latin America in cookies, alfajores, and cereals through Bagley Latin America, a joint venture with Danone Group.

For Arcor, the project reaffirms its commitment to its home market; for Danone, it secures a “dairy stronghold” while sharing the macroeconomic risks inherent in the Argentinian market.

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