Coca-Cola, Danone Form Water Venture

Coca-Cola Co. and Groupe Danone said they are forming a venture to produce, market and sell Danone’s bottled water in the U.S.

Coca-Cola will pay cash for a 51% stake in the venture. Danone will contribute five manufacturing plants, a license for the use of the Dannon and Sparkletts brands and ownership of other brands.

In April, Danone hired Coca-Cola to distribute and market its Evian water in North America.