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, reports Trend with reference to Reuters
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”.