Danone expands presence in plant-based segment with deal to acquire Vegenaise maker Follow Your Heart

19-Feb-2021 - Last updated on 19-Feb-2021 at 17:36 GMT

Picture courtesy of Danone

Related tags Follow Your Heart Danone

Danone – owner of dairy-free brands Alpro, Silk, and So Delicious Dairy Free - is expanding its presence in the burgeoning plant-based segment with a deal to acquire California-based Earth Island (owner of the Follow Your Heart brand) for an undisclosed sum.

A pioneer in the vegan foods movement, Follow Your Heart makes shredded and sliced plant-based cheese, grated and shredded plant-based parmesan and cream cheese alternatives; the egg-free mayonnaise brand, Vegenaise; plant-based sour cream, salad dressings, and the VeganEgg.

Its products are available nationwide in the US; in Canada under the Earth Island brand; and in several international markets under the Follow Your Heart brand including the UK, Australia, Sweden, Ireland, Iceland, and Denmark.

As part of Danone – which recently set a goal of increasing plant-based sales from €2.2bn in 2020 to €5bn by 2025 and has invested in several alternative protein companies via its ventures arm - Follow Your Heart will be able to accelerate its national and international expansion, said co-founder and CEO of Earth Island Bob Goldberg.

"Our mission has always been to produce the best plant-based food products and to make them available to as many people as possible.”

In a statement on the company's website, Goldberg added: "Like us, Danone believes that their company has an ethical responsibility to its people, its community, and to the Earth and they are committed to being good stewards of Follow Your Heart’s mission and values."

According to Danone’s latest earnings report, 10% of the company’s total sales are from plant-based products, generating 15% growth last year.