Danone factory

Danone will retain a non-consolidated minority stake in the business

Danone has agreed to sell its premium organic dairy business in the US to investment firm Platinum Equity for an undisclosed sum.

The sale is part of the French group’s portfolio review and turnaround program announced in March 2022, as part of its ‘Renew Danone’ strategy.

In 2022, the US premium organic dairy operation comprised of the Horizon Organic and Wallaby businesses, which represented approximately 3% of Danone’s global revenues.

Danone will retain a non-consolidated minority stake in the business. The closing of the transaction is subject to customary conditions.

“As part of our ‘Renew Danone’ strategy, we committed to a portfolio review and asset rotation for businesses that fell outside our priority growth areas of focus to drive value creation,” CEO Antoine de Saint-Affrique said.

“Today marks an important milestone in delivering this commitment while giving the Horizon Organic and Wallaby businesses the opportunity to thrive under new leadership.

“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.”

Danone’s shares are up 0.8% to €59.15 today.