Add-on Acquisition • Consumer Products

Danone Acquires Kate Farms

On July 1, 2025, Danone acquired consumer products company Kate Farms from Novo Holdings A/S

Acquisition Context
  • This is Danone’s 3rd transaction in the Consumer Products sector.
  • This is Danone’s 9th transaction in the United States.
  • This is Danone’s 1st transaction in California.

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M&A Deal Summary

Date July 1, 2025
Target Kate Farms
Sector Consumer Products
Buyer(s) Danone
Sellers(s) Novo Holdings A/S
Deal Type Add-on Acquisition

Target Company

Kate Farms

Goleta, California, United States
Kate Farms is a provider of plant-based, organic nutrition formulas developed to better meet the needs of patients with medical conditions and individuals seeking daily nutritional support. Kate Farms was founded in 2012 and is based in Goleta, California.
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Buyer Overview 1

Buyer

Danone

Paris, France

Category Company
Founded 1899
Sector Food
Employees89,528
Revenue 27.4B EUR (2024)
DESCRIPTION

Danone is a food & beverage company built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition, and Medical Nutrition. Danone was founded in 1899 and is based in Paris, France.


Deal Context for Buyer #
Overall 41 of 41
Sector: Consumer Products 3 of 3
Type: Add-on Acquisition 20 of 20
State: California 1 of 1
Country: United States 9 of 9
Year: 2025 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-25 Akkermansia

Mont-Saint-Guibert, Belgium

Akkermansia specializing in next-generation probiotic and postbiotic supplements. Akkermansia was founded in 2019 and is based in Mont-Saint-Guibert, Belgium.

Buy -

Seller Profile 1

DESCRIPTION

Novo Holdings A/S is a Danish holding company and the investment arm of the Novo Nordisk Foundation. Novo Holdings' objective is to grow the assets of the Foundation and improve the lives of people around the world. In addition to investing in equity and fixed income securities, Novo Holdings pursues direct investments in life science companies. Novo Holdings A/S was established in 1999 and is headquartered in Hellerup, Denmark.


Deal Context for Seller #
Overall 2 of 2
Sector: Consumer Products 1 of 1
Type: Add-on Acquisition 1 of 1
State: California 2 of 2
Country: United States 2 of 2
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-25 Benchmark Genetics

Bergen, Norway

Benchmark Genetics is a salmonid genetics company providing eggs and other genetic services to both traditional and land-based farmers, operating across Norway, Iceland & Faroe Islands, Chile, and other major geographies. Benchmark Genetics is based in Bergen, Norway.

Buy £230M