Latest news with #ShaneGrant
The Star
19-05-2025
- Business
- The Star
Danone enters protein shake market with new yogurt
FILE PHOTO: French food group Danone logo is seen on products displayed in a supermarket in Paris, France, January 24, 2025. REUTERS/Gonzalo Fuentes/File Photo NEW YORK: Danone has introduced a new protein shake under its Oikos yogurt brand as rivals Fairlife and Chobani that have similar products gain popularity with consumers and those taking weight-loss drugs such as Wegovy. The company is looking to enter the US$7bil protein shake market, said Shane Grant, global deputy chief executive of Danone, in an interview last month. 'Three-quarters of US consumers want more protein in their diet, and GLP-1s are only accelerating this demand,' Grant said, referring to the weight-loss medications. 'We see the explosive growth across lots of demographics and occasions.' Danone said it spent about one year developing the shake, which is priced at US$3.69. People taking weight-loss drugs are encouraged to eat more protein to avoid losing muscle, Reuters has reported, leading to food makers such as Nestle and Conagra offering new products high in the nutrients or re-labelling existing ones to meet the new demand. Makers of smoothies and shakes have also joined the trend. Coca-Cola's ultra-filtered milk brand Fairlife, which offers protein shakes, isn't specifically marketed to people on GLP-1s, but is growing substantially, Coca-Cola executives have said in recent calls with Wall Street analysts, helping buoy the entire company. — Reuters Trading ideas: Samaiden, Gamuda, Hextar Capital, Pekat, Magma, ACME, MRCB, Avillion, EG, Paradigm REIT, Maxis, CSC, PIE
Yahoo
12-05-2025
- Business
- Yahoo
Danone acquires U.S. plant-based organic formula maker Kate Farms
By Abigail Summerville NEW YORK (Reuters) -Danone said on Monday it has agreed to buy a majority stake in Kate Farms, a U.S. maker of plant-based organic drinks that will fit into the French food giant's specialized nutrition portfolio. Santa Barbara, California-based Kate Farms makes formulas and shakes for everyday needs as well as for tube feeding for people with health conditions. Richard and Michelle Laver founded the company in 2012 after their daughter Kate, who has cerebral palsy, had difficulties with eating. Their products are sold to hospitals and consumers across the country. 'We consider Kate Farms very complementary to our specialized nutrition offerings and capabilities, which we believe will allow us to reach more consumers and patients and bring a high-quality new standard of care to more people with a wider variety of health needs,' Danone Group Deputy CEO Shane Grant said in an interview. 'It's a really important build for us in the U.S.' The size of the majority stake and financial terms were not disclosed. Paris-based Danone, which owns yogurt brand Activia, plant-based milk brand Silk and Evian water, signaled its interest in acquisitions after it reported strong 2024 earnings in February. Kate Farms has previously raised money from investors such as Goldman Sachs Asset Management and Main Street Advisors. In 2022, it raised $75 million in a Series C growth capital round. Kate Farms' senior management will retain a minority stake in the business, and its CEO, Brett Matthews, will serve as chairman and CEO of Danone's North American Medical Nutrition business. Danone has been operating in the U.S. since 1942, and now has more than 5,000 U.S. employees and 13 U.S. manufacturing facilities and one research and development hub. It has a market value of about $57 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
12-05-2025
- Business
- Reuters
Danone acquires U.S. plant-based organic formula maker Kate Farms
NEW YORK, May 12 (Reuters) - Danone ( opens new tab said on Monday it has agreed to buy a majority stake in Kate Farms, a U.S. maker of plant-based organic drinks that will fit into the French food giant's specialized nutrition portfolio. Santa Barbara, California-based Kate Farms makes formulas and shakes for everyday needs as well as for tube feeding for people with health conditions. Richard and Michelle Laver founded the company in 2012 after their daughter Kate, who has cerebral palsy, had difficulties with eating. Their products are sold to hospitals and consumers across the country. 'We consider Kate Farms very complementary to our specialized nutrition offerings and capabilities, which we believe will allow us to reach more consumers and patients and bring a high-quality new standard of care to more people with a wider variety of health needs,' Danone Group Deputy CEO Shane Grant said in an interview. 'It's a really important build for us in the U.S.' The size of the majority stake and financial terms were not disclosed. Paris-based Danone, which owns yogurt brand Activia, plant-based milk brand Silk and Evian water, signaled its interest in acquisitions after it reported strong 2024 earnings in February. Kate Farms has previously raised money from investors such as Goldman Sachs Asset Management and Main Street Advisors. In 2022, it raised $75 million in a Series C growth capital round. Kate Farms' senior management will retain a minority stake in the business, and its CEO, Brett Matthews, will serve as chairman and CEO of Danone's North American Medical Nutrition business. Danone has been operating in the U.S. since 1942, and now has more than 5,000 U.S. employees and 13 U.S. manufacturing facilities and one research and development hub. It has a market value of about $57 billion.
