Danone to Sell US Organic Dairy Units to Platinum Equity as Part of Portfolio Review
Source: The DairyNews
Danone has entered into an agreement to sell its premium organic dairy units, Horizon Organic and Wallaby, in the United States to investment firm Platinum Equity.
The sale is part of Danone's portfolio review and asset rotation program announced in March 2022. While the financial details of the deal were not disclosed, Danone mentioned that it would retain a minority stake in the business. The move is aligned with Danone's strategy to focus on its health-focused brands and reinvest in growth priorities. The sale is expected to impact Danone's 2024 financials.
Danone's organic dairy activity in the U.S. comprised of the Horizon Organic and Wallaby businesses with a portfolio of organic dairy products, including milk, creamers, yogurt, cheese and butter.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries.
About Danone
Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on-trend categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. Danone has defined its Renew strategy to restore growth, competitiveness, and value creation for the long-term. With 100,000 employees, and products sold in over 120 markets, Danone generated €27.7 billion in sales in 2022. Danone's portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including Aqua, Blédina, Bonafont, Cow & Gate, Mizone, Oikos and Silk).
About Horizon Organic®
Horizon Organic has been producing great-tasting organic milk since 1991. From the start, Horizon has remained committed to protecting a healthy planet and hasn't stopped working toward raising the bar as a leading organic milk producer in the U.S. In 2017, Horizon Organic became a brand of Danone North America. Today, Horizon works with more than 600 family farmers across the U.S. For more information on Horizon's full portfolio of organic dairy products, visit Horizon.com.
Danone's organic dairy activity in the U.S. comprised of the Horizon Organic and Wallaby businesses with a portfolio of organic dairy products, including milk, creamers, yogurt, cheese and butter.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries.
About Danone
Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on-trend categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. Danone has defined its Renew strategy to restore growth, competitiveness, and value creation for the long-term. With 100,000 employees, and products sold in over 120 markets, Danone generated €27.7 billion in sales in 2022. Danone's portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including Aqua, Blédina, Bonafont, Cow & Gate, Mizone, Oikos and Silk).
About Horizon Organic®
Horizon Organic has been producing great-tasting organic milk since 1991. From the start, Horizon has remained committed to protecting a healthy planet and hasn't stopped working toward raising the bar as a leading organic milk producer in the U.S. In 2017, Horizon Organic became a brand of Danone North America. Today, Horizon works with more than 600 family farmers across the U.S. For more information on Horizon's full portfolio of organic dairy products, visit Horizon.com.
