From Investing.com:

Danone has agreed to sell its premium organic dairy units in the United States, including the Horizon Organic and Wallaby businesses, to investment firm Platinum Equity. The deal is part of Danone’s portfolio review and asset rotation program announced in March 2022. The company will retain a minority stake in the business, and the sale will impact its 2024 financials.

The sale of the Horizon Organic and Wallaby businesses will allow Danone to focus on its current portfolio of health-focused brands and reinvest in its growth priorities. The Paris-based company declined to comment on the deal value but confirmed that the sale would have an impact on its 2024 financials. Danone’s organic dairy activity in the U.S. represented approximately 3% of its global revenues and had a dilutive impact on its like-for-like sales growth and recurring operating margin in 2022.

In 2021, Danone announced that it was exploring strategic options, including a potential sale, for its organic dairy activity in the U.S. The portfolio includes a range of organic dairy products such as milk, creamers, yogurt, cheese, and butter. Platinum Equity has yet to comment on the deal value. Danone will also retain a minority stake in the business even after the sale.



Read more: Danone to sell US organic dairy units to PE firm Platinum Equity By Reuters