NEW YORK--(Business Wire)--
Regulatory News:
Weight Watchers International, Inc. (NYSE: WTW) and Groupe DANONE
(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)
Weight Watchers International, Inc.
Sarika Sahni
Manager, Investor Relations
(212) 589-2751
or
Brainerd Communicators, Inc.
Corey Kinger
(212) 986-6667
or
Groupe DANONE.
Investor Relations
33 (0)1 44 35 20 76
or
Press Relations
33 (0)1 44 35 20 75
Copyright Business Wire 2008
