Food group Danone has announced that it has signed an agreement to sell its organic salad business, Earthbound Farm, to Taylor Farms.
Taylor Farms is a family-owned salad and fresh foods company, based in California.
A Strategic Move
The decision to sell Earthbound Farm is a part of Danone’s portfolio management and capital allocation optimisation strategy, the company said.
Earthbound Farm was founded in 1984 in California, and is the largest producer of organic salads in the US.
The company was owned by WhiteWave Foods until 2013, which was acquired by Danone in 2017.
The move significantly expanded Earthbound Farm's global presence in the plant-based and organic food products segment.
It helped the company to establish itself as a global leader uniquely positioned to capitalise on consumer trends centred around healthy and sustainable eating and drinking options.
In 2018, Earthbound Farm posted an annual sales of around $400 million.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.