Private equity firm to purchase Horizon Organic, Wallaby from Danone

Danone announced in January 2023 it was exploring strategic options for both businesses. The company will retain a minority stake in them once the transaction is completed.

Horizon Organic is a USDA-certified organic dairy brand with a product line that includes milk, creamers, whiteners, yogurt, cheese and butter. Wallaby is a manufacturer of Australian-inspired Greek yogurt.

“Horizon Organic is an iconic name in dairy that is well recognized and beloved by consumers,” said Louis Samson, co-president of Platinum Equity. “The brand 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.”

Adam Cooper, managing director of the private equity company, added that premium products, including organic and value-added items, are driving growth in the dairy category.

Other food businesses currently in Platinum Equity’s portfolio include Biscuit International, a European manufacturer of private label sweet biscuits, wine producer Fantini Group Vini, and seafood provider Iberconsa. Previous investments include JM Swank, a food ingredients distributor, and Harvest Meat Company, a US distributor of packaged meat and bakery products.

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