Danone to sell Horizon Organic and Wallaby to Platinum Equity
The investment firm, Platinum Equity has signed a definitive agreement to acquire Horizon Organic, the world’s largest USDA organic dairy brand, and Wallaby, an Australian-inspired Greek style yogurt brand, from Danone.
Photo © iStockphoto.com/ ValentynVolkov
The investment firm, Platinum Equity (Los Angeles, CA) has announced the signing of a definitive agreement to acquire Horizon Organic, the world’s largest USDA organic dairy brand, and Wallaby, an Australian-inspired Greek style yogurt brand, from Danone. A report from Reuters states that the sale of the two business was part of the company’s portfolio review and asset rotation program which was announced in March of 2022. The financial details of the sale were not disclosed.
"Premium offerings, including organic and value-added products, are driving the growth in the dairy milk category," said Platinum Equity managing director Adam Cooper, in a press release. "Horizon Organic is a pioneer of that segment and is in position to continue capitalizing on and accelerating the trend."
According to the company’s press release, the estimated value of the U.S. dairy category is $68 billion, with milk bringing in $17 billion of that total. The acquisition remains subject to customary closing conditions and regulatory approval.
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