Danone, Suntory in Water Venture

French food giant Groupe Danone and Japanese beverage company Suntory Ltd. have agreed to create a joint venture that they say would be one of the largest delivering bottled water to homes and offices in the United States.

Financial terms weren’t disclosed. Danone and Suntory would each own 50%.

Suntory is contributing its Suntory Water Group while Danone is giving the U.S. home office delivery business of Danone Waters of North America. The venture will handle regional brands including Crystal Springs and Sparkletts.