Platinum Equity has signed a definitive agreement to acquire Horizon Organic and Wallaby from Danone.
Horizon Organic is the largest USDA-certified organic dairy brand in the world and is a pioneer in dairy beverages, having introduced the first organic milk available coast to coast in the United States in 1991. Horizon Organic’s portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter.
The proposed acquisition also includes the Wallaby brand, an Australian-inspired Greek-style yogurt made with organic milk and premium ingredients.
“Horizon Organic is an iconic name in dairy that is well recognized and beloved by consumers,” said Platinum Equity co-president Louis Samson. “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.”
The US dairy category is estimated at $68 billion with milk comprising approximately $17 billion of that total.
“Premium offerings, including organic and value-added products, are driving the growth in the dairy milk category,” said Platinum Equity Managing Director Adam Cooper. “Horizon Organic is a pioneer of that segment and is in position to continue capitalizing on and accelerating the trend.”