Leading food company Danone has signed an agreement to sell its Horizon Organic and Wallaby brands to the private equity firm Platinum Equity.
Horizon Organic, one of the world’s largest USDA-certified organic dairy brands, produces milk, creamers, whiteners, yoghurt, cheese, and butter. Wallaby is an Australian-inspired Greek-style yoghurt prepared with organic milk.
The US dairy category is estimated at US$68 billion with milk comprising about $17 billion of that. According to Platinum Equity co-president Louis Samson, Horizon Organic 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,” he said.
Platinum Equity has also announced the pending acquisition of Kohler Energy from Kohler Co. and also bought businesses from companies including Ball Corporation, Caterpillar, ConAgra, Emerson Electric, Ingersoll Rand, and Johnson & Johnson in recent times.
The company’s portfolio also includes Biscuit International, Fantini Group Vini, and Iberconsa.
