Weight Watchers and Groupe DANONE Establish Weight Management Joint Venture
for China
NEW YORK, Feb. 5 /PRNewswire-FirstCall/ -- Weight Watchers International,
Inc. (NYSE: WTW) and Groupe DANONE (Euronext Paris: BN) today announced the
signing of a joint venture agreement to establish a weight management business
in the People's Republic of China based on the successful Weight Watchers
approach to weight loss. The joint venture, 51% owned by Weight Watchers
International and 49% owned by Groupe DANONE, combines Weight Watchers
International's unrivalled expertise, experience and know-how as the world's
leading provider of weight management services with Groupe DANONE's world-
class expertise in healthy consumer products and extensive knowledge of the
China marketplace and the Chinese consumer.
"We are excited to partner with Groupe DANONE for the expansion of our
weight management approach into the Chinese marketplace. This new joint
venture will facilitate and drive Weight Watchers entry into one of the
world's key markets, leveraging the unique strengths of each company," said
David Kirchhoff, President and Chief Executive Officer of Weight Watchers
International. "We believe that Groupe DANONE is the ideal partner for Weight
Watchers with its experience in China, its knowledge of Chinese consumers and
its mission to bring healthy food to the world's population."
Jacques Vincent, Vice President of the Board of Groupe DANONE, added:
"For Groupe DANONE in China, this joint venture is completely consistent with
the commitment of Danone to bring to the Chinese consumers products and
solutions with a positive impact on their health. This joint venture will
offer to Chinese consumers a world famous approach dedicated to eating right
and healthy living."
The new joint venture is expected to commence retail operations in China
within the next year.
About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the world's leading provider of
weight management services, operating globally through a network of Company-
owned and franchise operations. Weight Watchers holds over 50,000 weekly
meetings where members receive group support and learn about healthy eating
patterns, behavior modification and physical activity. WeightWatchers.com
provides innovative, subscription weight management products over the Internet
and is the leading Internet-based weight management provider in the world. In
addition, Weight Watchers offers a wide range of products, publications and
programs for those interested in weight loss and weight control.
About Groupe DANONE
Groupe DANONE is a Fortune 500 company and one of the most successful
healthy food companies in the world. Its mission is to bring health through
tasty, nutritious and affordable food and beverage products to as many people
as possible. Groupe DANONE with 200 plants and 88,000 employees has a presence
in all five continents and over 120 countries. In 2006, Groupe DANONE recorded
14 billion euros sales. In 2007, Groupe DANONE acquired Numico, and reinforced
its leading positions in healthy food in four business lines: fresh dairy
products (n. 1 worldwide), waters (n. 2 in the packaged water market), baby
food (n. 2 worldwide) and medical nutrition.
This news release contains forward-looking statements concerning Weight
Watchers International, Inc. within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based on
management's current expectations and beliefs, as well as a number of
assumptions concerning future events. These statements are subject to risks,
uncertainties, assumptions and other important factors. Readers are cautioned
not to put undue reliance on such forward-looking statements because actual
results may vary materially from those expressed or implied. The reports filed
by Weight Watchers International, Inc. pursuant to United States securities
laws contain discussions of these risks and uncertainties. Weight Watchers
International, Inc. assumes no obligation to, and expressly disclaims any
obligation to, update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are advised to
review Weight Watchers International, Inc.'s. filings with the United States
Securities and Exchange Commission (which are available from the SEC's EDGAR
database at www.sec.gov, at various SEC reference facilities in the United
States and via the Weight Watchers International, Inc.'s website at
www.weightwatchersinternational.com).
This press release contains certain forward-looking statements concerning
Groupe DANONE. Although Groupe DANONE believes its expectations are based on
reasonable assumptions, these forward-looking statements are subject to
numerous risks and uncertainties, which could cause actual results to differ
materially from those anticipated in the forward-looking statements. For a
detailed description of the important factors that could cause actual results
to differ materially from the expectations of Groupe DANONE or its management,
please see the sections "Risk Factors" in Groupe DANONE's Annual Report (which
is available on www.danone.com).
Contact Information:
Weight Watchers International, Inc.
Sarika Sahni Brainerd Communicators, Inc.
Manager, Investor Relations Corey Kinger
(212) 589-2751 (212) 986-6667
Groupe DANONE
Investor Relations Press Relations
33 (0)1 44 35 20 76 33 (0)1 44 35 20 75
SOURCE Weight Watchers International, Inc.
Sarika Sahni, Manager, Investor Relations, +1-212-589-2751; Corey Kinger of
Brainerd Communicators, Inc., +1-212-986-6667, both for Weight Watchers
International, Inc.; Investor Relations, 33 (0)1 44 35 20 76, or Press
Relations, 33 (0)1 44 35 20 75, both of Groupe DANONE
