Following a recent announcement that Danone would undertake a review of brands and explore divestment of the Horizon Organic and Wallaby businesses, sale of the two enterprises to Platinum Equity was announced at the beginning of January.

Horizon Organic is a certified organic U.S. dairy producer with a range including eggs, milk, yogurt and butter.  Wallaby is based in Australia and manufactures and distributes yogurt.

Adam Cooper, Managing Director at Platinum Equity noted, “We are excited about Horizon Organic’s potential as an independent business with a renewed sense of focus and we have a commitment to investing in its success.”  He added, “We look forward to partnering with the Horizon Organic management team to ensure a seamless transition and to chart a path for continued growth and expansion.”

Antoine de Saint-Affrique, CEO of Danone, commented on the divestment, stating, “As part of our renewed Danone strategy, we committed to a portfolio review and asset rotation for businesses that fell outside our priority growth areas to focus on value creation.  Today marks an important milestone in delivering this commitment while giving Horizon Organic and Wallaby businesses the opportunity to thrive.”