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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Wahaha Joint Venture Company is a food and beverage joint venture company established between the Hangzhou Wahaha Group, the largest beverage producer in China, and Danone, one of the world''s largest food conglomerates.The companies have been partners since 1996 in a business model Forbes magazine hailed as a "showcase" joint venture.As the businesses expanded and became more complex, Danone had made several attempts to buy out Wahaha, but was rebuffed. Danone and Wahaha''s General Manager Zong Qinghou signed a deal in December 2006, allowing Danone to buy a majority stake in the non-JV operations. However, Zong had second thoughts about the deal and reneged, claiming the offer was underpriced. It is alleged that he wanted to squeeze a higher price out of Danone.