By Adria Calatayud


Danone said it would sell its Horizon Organic and Wallaby organic-dairy businesses in the U.S. to investment firm Platinum Equity for an undisclosed sum.

The French producer of yoghurts, bottled water and infant-nutrition products said Tuesday that the sale agreement is part of a portfolio review launched in 2022. The brands represented about 3% of the group's global revenue and had a dilutive impact on its like-for-like sales growth and recurring operating margin, Danone 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," Danone Chief Executive Antoine de Saint-Affrique said.

Platinum Equity separately said the brands will benefit from its carve-out experience and operational expertise. Its portfolio includes cookie maker Biscuit International, wine producer Fantini Group Vini and seafood provider Iberconsa.

Danone said it would retain a minority stake that won't be consolidated into its results after completing the sale, which remains subject to customary conditions.


Write to Adria Calatayud at


(END) Dow Jones Newswires

January 02, 2024 01:25 ET (06:25 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.
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