Danone Sells Earthbound Farm to Taylor Farms
April 11 2019 - 7:21PM
Dow Jones News
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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