Danone Sells Earthbound Farm to Taylor Farms

Date : 04/11/2019 @ 11:21PM
Source : Dow Jones News
Stock : Danone (QX) (DANOY)
Quote : 15.48  -0.165 (-1.05%) @ 10:20PM

Danone Sells Earthbound Farm to Taylor Farms

Danone (QX) (USOTC:DANOY)
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   By Josh Beckerman 
 

Danone SA (BN.FR, DANOY) has sold salad maker Earthbound Farm to Taylor Farms, calling the sale part of a portfolio management and capital allocation optimization strategy.

Earthbound had sales of about $400 million in 2018. It joined Danone as part of the $10.4 billion purchase of WhiteWave Foods Co. in 2017.

Earthbound, based in San Juan Bautista, Calif., says it is the largest grower of organic produce in the U.S. According its website, the company was founded in 1984, a time when "'salad' was iceberg lettuce."

Statements from Danone and Taylor didn't include the sale price.

Lettuce producers include Taylor, Dole Fresh Vegetables Inc. and Fresh Express Inc. were hurt by a 2018 E.coli outbreak linked to romaine lettuce.

In March, Salinas, Calif.-based Taylor discussed the importance of irrigation water as a risk factor and said it planned to only source leafy green products from growers that committed to heightened water standards.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

April 11, 2019 19:06 ET (23:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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