Danone announces it will explore strategic options, including a potential sale, for its organic dairy activity in the United States, comprising the Horizon Organic and Wallaby businesses.
This announcement is an additional step in the portfolio review and asset rotation program the company announced in March 2022, as part of the Renew Danone strategy.
"Horizon Organic and Wallaby are strong brands in the U.S. organic dairy category, with a portfolio of organic dairy products, including milk, creamers & whiteners, yogurt, cheese, and butter. They represent approximately 3% of Danone’s global revenues and had a dilutive impact on Danone’s like-for-like sales growth and recurring operating margin in 2022," Danone said in a statement.
Antoine de Saint-Affrique, Danone CEO, added:
“Both Horizon Organic and Wallaby are strong, much-loved brands with compelling growth
opportunities.
That said, seen through the lens of our Renew Strategy which requires us to stay disciplined in
how we allocate our resources, they fall outside our priority growth areas of focus.
We are confident that exploring strategic options for these brands will enable them to get the
focus and resources they need and therefore allow them to maximize their potential and
unlock further growth."