Paris-based Danone and Earth Island, maker of the Follow Your Heart brand plant-based foods, said they entered into a share purchase agreement under which Danone will acquire 100% of the shares of Earth Island. With a proven track record of growth and innovation, and a long-term commitment to nutrition, sustainability and environmental stewardship, Earth Island represents a strong cultural fit with Danone and provides Danone with a unique opportunity to strengthen its plant-based business.
Founded in 1988 to meet the growing demand for Vegenaise at the Follow Your Heart Market & Café, Earth Island is a pioneer in the U.S. plant-based marketplace, the companies said, with a dairy-free “cheese” brand and an egg-free mayonnaise brand, Vegenaise. The company also produces plant-based “sour cream,” salad dressings and VeganEgg within its Follow Your Heart portfolio. As part of the Danone family, Earth Island will be able to accelerate the growth of the Follow Your Heart brand nationally and internationally alongside some of Danone's best-known plant-based brands, including Alpro, Silk and So Delicious Dairy Free.
"Our mission has always been to produce the best plant-based food products and to make them available to as many people as possible," said Bob Goldberg, co-founder and CEO of Los Angeles-based Earth Island. "We're very pleased to be joining the Danone family of plant-based companies in a collective effort to bring positive change in the world through the creation of sustainably and responsibly-made foods."
As a global and U.S. leader in plant-based food and beverages, Danone said it is committed to bringing innovative, delicious plant-based offerings to consumers, in an unmatched variety of formats, for every moment throughout the day, lifestyle and need.
"We are delighted to welcome Follow Your Heart's team to our amazing team at Danone," said Shane Grant, executive vice president and CEO, Danone North America. "The Follow Your Heart family shares our commitment to producing high-quality products that delight consumers while contributing to the wellbeing of people and planet.”
The transaction is subject to the receipt of required regulatory approvals.