Private equity company Platinum Equity has signed a definitive agreement to acquire Horizon Organic and Wallaby from Danone. Horizon Organic introduced the first organic milk available coast-to-coast in the US in 1991. Its product lineup includes various organic dairy items such as milk, creamers and whiteners, yogurt, cheese and butter. Meanwhile, the Wallaby brand is an Australian-style and Greek yogurts made with organic milk and premium ingredients. The acquisition was first announced in January 2023, when Danone said it was considering the sale of Horizon Organic and Wallaby as part of its continuous strategic portfolio review. Platinum Equity's co-president, Louis Samson, said: "Horizon Organic is an iconic name in dairy that is well recognised and beloved by consumers. The brand has earned a reputation for quality and innovation that is unmatched in the industry. We appreciate Danone's confidence in our ability to build on that legacy and support Horizon Organic's growth as a standalone company." Platinum Equity's managing director, Adam Cooper, added: "Premium offerings, including organic and value-added products, are driving the growth in the dairy milk category. Horizon Organic is a pioneer of that segment and is in position to continue capitalising on and accelerating the trend." He continued: "We are excited about Horizon Organic's potential as an independent business with a renewed sense of focus and a commitment to investing in its success. We have a lot of experience supporting food and beverage businesses. We look forward to partnering with Horizon Organic's management team to ensure a seamless transition and chart a path for continued growth and expansion." The acquisition is subject to customary closing conditions and regulatory approval. Terms of the transaction were not disclosed.