Admin
On Jan. 2, French dairy manufacturer Danone (called Dannon in the United States), sold its U.S.-based Horizon Organic and Wallaby Organic brands to Platinum Equity, an investment firm based in Beverly Hills, CA.
The decision to offload the brands was part of the Renew Danone turnaround strategy. According to Danone CEO Antoine de Saint-Affrique, the two dairy brands represented 3 percent of the the global revenues causing a “dilutive impact” on sales. However, Danone will still retain a minority stake in the business.
“Today marks and important milestone in delivering this commitment, while giving the Horizon Organic and Wallaby businesses the opportunity to thrive under new leadership,” de Saint-Affrique said. “This sale, once completed, will allow us to concentrate further on our current portfolio of strong, health-focused brands and reinvest in our growth priorities.
The two brands, both based in Broomfield, CO, are well-known for their assorted dairy products including milk, yogurt, creamer, butter and cheese. Danone first obtained Horizon Organic in 2016 through a $12.5 billion merger with WhiteWave Foods (White Plains, NY), now called Danone North America.
“Both Horizon Organic and Wallaby are strong, much-loved brands with compelling growth opportunities,” de Saint-Affrique said. “That said, seen through the lens of our renew strategy, which requires us to stay disciplined in how we allocate our resources, they fall outside our priority growth areas of focus.”
On Jan. 2, French dairy manufacturer Danone (called Dannon in the United States), sold its U.S.-based Horizon Organic and Wallaby Organic brands to Platinum Equity, an investment firm based in Beverly Hills, CA.
The decision to offload the brands was part of the Renew Danone turnaround strategy. According to Danone CEO Antoine de Saint-Affrique, the two dairy brands represented 3 percent of the the global revenues causing a “dilutive impact” on sales. However, Danone will still retain a minority stake in the business.
“Today marks and important milestone in delivering this commitment, while giving the Horizon Organic and Wallaby businesses the opportunity to thrive under new leadership,” de Saint-Affrique said. “This sale, once completed, will allow us to concentrate further on our current portfolio of strong, health-focused brands and reinvest in our growth priorities.
The two brands, both based in Broomfield, CO, are well-known for their assorted dairy products including milk, yogurt, creamer, butter and cheese. Danone first obtained Horizon Organic in 2016 through a $12.5 billion merger with WhiteWave Foods (White Plains, NY), now called Danone North America.
“Both Horizon Organic and Wallaby are strong, much-loved brands with compelling growth opportunities,” de Saint-Affrique said. “That said, seen through the lens of our renew strategy, which requires us to stay disciplined in how we allocate our resources, they fall outside our priority growth areas of focus.”
