Danone to acquire majority stake in Kate Farms

Danone has entered into a definitive agreement to acquire a majority stake in Kate Farms, a manufacturer of plant-based, organic nutrition products for everyday and medical nutrition, including tube feeding. According to the press release announcing the acquisition, the partnership builds on the companies’ shared commitment to offering nutritional solutions that positive impact people’s health and improve the standard of care and better serve U.S. communities. Once the acquisition closes, Kate Farms’ CEO, Brett Matthews, will serve as Chairman and CEO of Danone’s North American Medical Nutrition business. The senior management of Kate Farms will retain a minority stake in the combined business.

“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 U.S.,” said Matthews, in a press release. “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. As a business founded on and guided by deeply held values, it was important for us to partner with an organization that is aligned with our mission in this way, and we believe Danone is the perfect fit to continue to make nutrition the foundation of health.”

“We are thrilled to join forces with Kate Farms and are looking forward to welcoming Brett and his team to Danone,” added Shane Grant, Danone Group Deputy CEO and CEO Americas. “This partnership aligns perfectly with our science-based and patient-centered approach to specialized nutrition, and it marks another important milestone in Danone’s 125-year Specialized 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 U.S. and globally.”