Danone has announced the sale of its Horizon Organic and Wallaby brands to private equity firm Platinum Equity.
Horizon Organic is the largest USDA-certified organic dairy brand in the world and has a portfolio of organic dairy products, including milk, creamers and whiteners, yoghurt, cheese, and butter. The Wallaby brand is an Australian-inspired Greek-style yogurt made with organic milk and premium ingredients.
Louis Samson, Co-President of Platinum Equity, said Horizon Organic is an iconic name in dairy that is well recognised and beloved by consumers.
“The brand has earned a reputation for quality and innovation that is unmatched in the industry. We appreciate Danone’s confidence in our ability to build on that legacy and support Horizon Organic’s growth as a standalone company.”
Adam Cooper, Managing Director of Platinum Equity, said premium offerings, including organic and value-added products, are driving the growth in the dairy milk category.
“We are excited about Horizon Organic’s potential as an independent business with a renewed sense of focus and a commitment to investing in its success.
“We have a lot of experience supporting food and beverage businesses. We look forward to partnering with Horizon Organic’s management team to ensure a seamless transition and chart a path for continued growth and expansion.”
The proposed acquisition of Horizon Organic and Wallaby is subject to customary closing conditions and regulatory approval.
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