Danone acquires the LA-based vegan dairy maker Follow Your Heart4 Mar 2021
French dairy conglomerate Danone acquired the Los Angeles-based vegan dairy maker, Follow Your Heart. The acquisition was done with a 100% purchase of Earth Island shares, the brand’s parent company. However, financial details were not disclosed.
Although Danone has historically focused on dairy, it is committed to boosting the number of plant-based offerings in its portfolio to hit its goal of increasing plant-based sales worldwide to €5 billion by 2025 – or triple the amount of plant-based sales recorded in 2018. Follow Your Heart is the next step on its journey.
“This partnership will build on our success in plant-based beverages, yogurt alternatives and creamers, further accelerating the growth of our North American plant-based business," said Shane Grant, Danone North American CEO in a statement.
Already, Danone boasts a portfolio laden with brands that defined the original plant-based movement. Among its ranks it counts Silk, So Delicious and Alpro, all brands that were founded prior to 1990. Follow Your Heart moved into CPG production in 1988 after starting at a local California market in the 1970s.
These acquired pioneers have proven to be a beneficial investment for Danone. In its FY 2020 earnings report, the company reported that 10% or just about €2 billion of its total sales are now from plant-based products. Overall growth from its plant-based brands registered at 15% .
However, plant-based is not the only way that Danone is looking to leave its mark – or lack thereof – on the environment. Danone's North American business is the world's largest Certified B Corporation, a designation that is given to companies based on their commitments to transparency, sustainability, social issues and accountability. Earth Island is similarly mission-driven and is dedicated to innovating and producing high-quality foods that enhance the lives of its consumers and contribute to the betterment and wellbeing of the Earth and its inhabitants. Together the companies are working to blend their missions to both feed and keep the population more sustainable.
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