Danone sells Horizon Organic and Wallaby to private equity
Image: Horizon Organic
Platinum Equity has announced the signing of a definitive agreement to acquire Horizon Organic and Wallaby from Danone. Horizon Organic is the largest USDA-certified organic dairy brand in the world and is a pioneer in dairy beverages, having introduced the first organic milk available coast to coast in the US in 1991. Its portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter.
The proposed acquisition also includes the Wallaby brand, an Australian-inspired Greek-style yogurt made with organic milk and premium ingredients.
“Horizon Organic is an iconic name in dairy that is well recognised and beloved by consumers,” said Platinum Equity co-[resident Louis Samson. “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.”
“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,” said Platinum Equity managing director Adam Cooper. “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.”
Platinum Equity’s current portfolio includes Biscuit International, a European manufacturer of private-label sweet biscuits, wine producer Fantini Group Vini and seafood provider Iberconsa. Previous Platinum Equity investments include JM Swank, a food ingredients distributor acquired from ConAgra, and Harvest Meat Company, a US distributor of packaged meat and bakery products.
The proposed acquisition of Horizon Organic and Wallaby is subject to customary closing conditions and regulatory approval.