Danone Acquires Majority Stake in Plant-Based Formula Company Kate Farms
Danone has reached an agreement to acquire a majority stake in Kate Farms, a US-based producer of plant-based, organic nutrition products. The acquisition, which is expected to enhance Danone’s specialized nutrition portfolio, will see the integration of Kate Farms’ products, including formulas for everyday consumption and those designed for tube feeding, into Danone’s existing offerings. Shane Grant, Deputy CEO of Danone Group, explained the strategic fit between the two companies. “Kate Farms is complementary to our specialized nutrition offerings, which we believe will allow us to reach more consumers and patients and bring a high-quality new standard of care to people with a wider variety of health needs,” he stated. While the financial terms of the transaction were not disclosed, the acquisition follows a strong …