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Phenix invests from US Danone to stop food waste

February 11/2020

MOSCOW (MRC) -- French Phenix received an investment from New York-based food products multinational Danone Manifesto Ventures, Danone said.

The exact amount was not disclosed.

B Corp-certified Phenix is a firm that promotes a circular economy and reduces food waste by connecting food distributors with different organisations, food banks and animal feed industry. Its digital platform was created by co-founders Jean Moreau and Baptiste Corval.

Phenix has previously received investments from UK private equity firm ETF partners, BPIFrance, Arkea , Sofiouest and INCO, raising EUR15m in 2018.

Phenix has saved more than 100m meals since its creation in 2014, according to the Phenix website. It saved up to 40m meals in France in 2019. Phenix recently launched a consumer facing mobile application to reduce food waste.

As MRC informed earlier, Danone, a French dairy company, has consolidated 100% of Unimilks shares, having bought all minority stakes from minority shareholders. According to him, Danone, which in 2010 agreed to merge assets in Russia and the CIS with Unimilk and owned almost 58% of the companys shares, bought the remaining 42% of the joint venture.

According to MRC's ScanPlast report, the estimated consumption of polyethylene terephthalate (PET) in Russia decreased by 16% year on year in December 2019. Russia's overall estimated PET consumption totalled 696,810 tonnes in 2019, up by 1% year on year (690,130 tonnes in 2018).

Danone has been working in Russia since 1992. In the summer of 2010, the merger of Danone's dairy business in Russia and Unimilk, a Russian dairy company, was announced. The investment volume of Danone since the start of operations in Russia has reached $ 1.8 billion. The group includes 20 factories that produce products under the brands Danone, Activia, Actimel, Rastishka, Danissimo, Prostokvashino and others.
Author:Anna Larionova
Tags:PE, packaging, PET bottles, Danon.
Category:General News
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