Danone sells US organic salad business to Taylor Farms

📆 12-04-2019 13:57:00
📰 ChannelNewsAsia

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French food group Danone said on Friday it had signed a definitive agreement for the sale of Earthbound Farms, its U.S. organic salad business, to ...

PARIS: French food group Danone said on Friday it had signed a definitive agreement for the sale of Earthbound Farms, its U.S. organic salad business, to California-based Taylor Farms.The sale of Earthbound Farms, which had 2018 sales of about US$400 million, is part of Danone's portfolio management and capital allocation optimization strategy, the company statement said.

Danone Chief Executive Emmanuel Faber said in February the loss-making Earthbound Farms was under"intense strategic scrutiny".

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