The transaction includes all assets of Danone Chile S.A., a plant in the city of Chillan, and the Calán brand.
Watt's and Danone have also agreed on the main elements of a license agreement for the use of Activia, Danone and Danone Light brands in Chile. Both companies will continue to develop Danone brands in the country.
Rodolfo Véliz Möller, CEO of Watt's, said the acquisition and long-term agreement with Danone would allow the company to continue the work done so far by Danone in Chile.
The closing of the transaction will occur in the coming months and is subject to customary conditions.
The cost of the transaction was not revealed by Watt’s, however, various sources in Chile, including Diario Financiero, have stated the transaction at $24m.