Sean Moloughney, Editor02.23.21
Danone has reached an agreement to acquire 100% of the shares of Earth Island, a plant-based foods company whose brands include Follow Your Heart, which is maybe best known for its vegan mayonnaise, Vegenaise. The transaction is subject to required regulatory approvals.
In the U.S., plant-based food and beverages are a $5 billion category, according to IRI data, and plant-based cheese is one of the fastest growing segments. This partnership will enable Danone to enhance and expand its plant-based offerings to provide consumers with plant-based alternatives for even more occasions throughout their day, while also contributing to its goal of increasing plant-based sales worldwide from more than €2 billion in 2020 to €5 billion by 2025.
With its track record of growth and innovation, and a long-term commitment to nutrition, sustainability and environmental stewardship, Danone said Earth Island represents a cultural fit with the company, offering 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 with a leading dairy-free cheese brand—offering shredded and sliced plant-based cheese, grated and shredded plant-based parmesan and cream cheese alternatives—and the most iconic 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 plant-based brands, including Alpro, Silk and So Delicious Dairy Free, the company said.
"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 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’s 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, EVP 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 well-being of People and Planet. Consumers are increasingly eating flexitarian diets, and we look forward to working with the Follow Your Heart team to offer our consumers even more choices. This partnership will build on our success in plant-based beverages, yogurt alternatives and creamers, further accelerating the growth of our North American plant-based business."
In the U.S., plant-based food and beverages are a $5 billion category, according to IRI data, and plant-based cheese is one of the fastest growing segments. This partnership will enable Danone to enhance and expand its plant-based offerings to provide consumers with plant-based alternatives for even more occasions throughout their day, while also contributing to its goal of increasing plant-based sales worldwide from more than €2 billion in 2020 to €5 billion by 2025.
With its track record of growth and innovation, and a long-term commitment to nutrition, sustainability and environmental stewardship, Danone said Earth Island represents a cultural fit with the company, offering 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 with a leading dairy-free cheese brand—offering shredded and sliced plant-based cheese, grated and shredded plant-based parmesan and cream cheese alternatives—and the most iconic 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 plant-based brands, including Alpro, Silk and So Delicious Dairy Free, the company said.
"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 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’s 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, EVP 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 well-being of People and Planet. Consumers are increasingly eating flexitarian diets, and we look forward to working with the Follow Your Heart team to offer our consumers even more choices. This partnership will build on our success in plant-based beverages, yogurt alternatives and creamers, further accelerating the growth of our North American plant-based business."
