April 12, 2019 / 5:25 AM / in 7 days

Danone sells U.S. organic salad business to Taylor Farms

The logo of French food group Danone is seen at the company's headquarters in Paris, France, December 20, 2017. REUTERS/Charles Platiau

PARIS (Reuters) - French food group Danone said on Friday it had signed a definitive agreement for the sale of Earthbound Farms, its U.S. organic salad business, to California-based Taylor Farms.

Financial terms of the deal were not disclosed.

The sale of Earthbound Farms, which had 2018 sales of about $400 million, is part of Danone’s portfolio management and capital allocation optimization strategy, the company statement said.

Danone Chief Executive Emmanuel Faber said in February the loss-making Earthbound Farms was under “intense strategic scrutiny”.

Reporting by Dominique Vidalon; Editing by Rashmi Aich

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