Danone acquires US plant-based nutritional formulas company
Danone has announced today (Monday, May 12) that it has entered into a definitive agreement to acquire a majority stake in Kate Farms, a fast-growing US business offering plant-based, organic nutrition products for both medical and everyday needs.
Kate Farms' products are expected to enhance Danone's specialised nutrition offerings.
According to Danone, the partnership builds on Danone and Kate Farms' shared commitment to offer nutritional solutions that positively impact people's health, and their continued efforts to support improved standards of care to better serve communities in the US.
The acquisition means that Kate Farms' products will reach more consumers and patients, which Danone has stated will bring high-quality nutrition to more people with a wide range of health needs.
Following the closing of the transaction, Kate Farms' chief executive officer, (CEO) Brett Matthews, will serve as chair and CEO of Danone's North American Medical Nutrition business.
Kate Farms' senior management will retain a minority stake in the combined business. The transaction remains subject to closing conditions, including regulatory approval.
Matthews said: 'Kate Farms is focused on helping people live their best lives through quality nutrition. We are excited to be working alongside Danone, who share our mission.
'We are both focused on going above and beyond to help people with health needs and the medical professionals supporting those needs in the US.
'Together, we can bring our innovative scientifically developed nutritional products to more and more people. Building on Danone's expertise, we can also expand internationally.
'It is rare that two companies come together by virtue of the same values and a philosophy of building a growth company that helps people live their best lives, delivered by team members who show their heart and expertise every day,' he added.
Danone Group deputy CEO, and CEO Americas, Shane Grant added: 'This partnership aligns perfectly with our science-based and patient-centred approach to specialised nutrition, and it marks another important milestone in Danone's 125-year specialised nutrition history.
'Kate Farms' innovative medical nutrition products expand our offerings, enhance our ability to provide better solutions for people with wide-ranging health needs, and support healthier lives, both in the US and globally.
'With a deep 80-year heritage and over 5,000 team members in the US, Danone has built a thriving local presence across the country.
'This new partnership further builds on that footprint and enhances our commitment to the growth of our communities.'
Danone
Danone is a global food and beverage company operating in three health-focused, fast-growing and on-trend categories: Essential dairy and plant-based products; waters; and specialised nutrition.
Danone has defined its 'Renew' strategy to restore growth, competitiveness, and value creation for the long-term.
With over 90,000 employees, and products sold in over 120 markets, Danone generated €27.4 billion in sales in 2024.
Danone's portfolio includes leading international brands – (Actimel; Activia; Alpro; Aptamil; Danette; Danio; Danonino; evian; Nutricia; Nutrilon; Volvic; among others) as well as local and regional brands including: AQUA; Bledina; Bonafont; Cow & Gate; Mizone; Oikos; Silk.
Kate Farms
Kate Farms was founded when a little girl named Kate was failing to thrive because she couldn't tolerate any of the available tube feeding formulas.
Her determined parents, Richard and Michelle, had the idea to develop a formula using high-quality, organic, and plant-based ingredients without the common allergens and ingredients often found in traditional formulas.
Kate Farms provides nutritional formulas and shakes for children and adults, intended for both oral and tube feeding, whether as sole-source or supplemental nutrition.
They are available nationally and eligible for insurance coverage in 33+ states. All formulas and shakes are made with organic pea protein, fibre, and phytonutrients, and without the top nine allergens, artificial sweeteners, colours, or flavours.
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