Danone announces the sale of Horizon Organic and Wallaby businesses
in the U.S.
Press release – Paris, January 2, 2024
Danone announces the sale
ofHorizon Organic and Wallaby businesses in the
U.S.
Danone announces today it has signed an
agreement to sell its premium organic dairy activity in the U.S. to
Platinum Equity, a US-based investment firm.
The sale is part of Danone’s portfolio review
and asset rotation program the company announced in March 2022, as
part of its Renew Danone strategy.
In 2022, the US premium organic dairy activity,
comprised of the Horizon Organic and Wallaby businesses,
represented approximately 3% of Danone’s global revenues and had a
dilutive impact on Danone’s like-for-like sales growth and
recurring operating margin.
Danone will retain a non-consolidated minority
stake in the business. The closing of the transaction is subject to
customary conditions.
Antoine de Saint-Affrique, Chief
Executive Officer, said:
“As part of our Renew Danone strategy, we
committed to a portfolio review and asset rotation for businesses
that fell outside our priority growth areas of focus to drive value
creation.
Today marks an important milestone in delivering
this commitment while giving the Horizon Organic and Wallaby
businesses the opportunity to thrive under new leadership.
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.”
o o O o o
FORWARD-LOOKING STATEMENTS
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can identify these forward-looking statements by forward-looking
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“confident,” the negative or plural of these words and other
comparable terminology. Forward looking statements in this document
include, but are not limited to, predictions of future activities,
operations, direction, performance and results of Danone.
Although Danone believes its expectations are
based on reasonable assumptions, these forward-looking statements
are subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those anticipated in these
forward-looking statements. For a detailed description of these
risks and uncertainties, please refer to the “Risk Factor” section
of Danone’s Universal Registration Document (the current version of
which is available at www.danone.com).
Subject to regulatory requirements, Danone does
not undertake to publicly update or revise any of these
forward-looking statements. This document does not constitute an
offer to sell, or a solicitation of an offer to buy Danone
securities.
About Danone
(www.danone.com)
Danone is a leading global food and beverage
company operating in three health-focused, fast-growing and
on-trend categories: Essential Dairy & Plant-Based products,
Waters and Specialized Nutrition. With a long-standing mission of
bringing health through food to as many people as possible, Danone
aims to inspire healthier and more sustainable eating and drinking
practices while committing to achieve measurable nutritional,
social, societal and environment impact. Danone has defined its
Renew strategy to restore growth, competitiveness, and value
creation for the long-term. With 100,000 employees, and products
sold in over 120 markets, Danone generated €27.7 billion in sales
in 2022. Danone’s portfolio includes leading international brands
(Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian,
Nutricia, Nutrilon, Volvic, among others) as well as strong local
and regional brands (including Aqua, Blédina, Bonafont, Cow &
Gate, Mizone, Oikos and Silk). Listed on Euronext Paris and present
on the OTCQX market via an ADR (American Depositary Receipt)
program, Danone is a component stock of leading sustainability
indexes including the ones managed by Moody’s and Sustainalytics,
as well as the Ethibel Sustainability Index, the MSCI ESG Indexes,
the FTSE4Good Index Series, Bloomberg Gender Equality Index, and
the Access to Nutrition Index. Danone’s ambition is to be B-Corp
certified at global level in 2025.
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