Groupe Danone has sold Earthbound Farm, its fresh produce company, to Taylor Farms for an undisclosed sum.
Earthbound had been part of WhiteWave Foods, which Danone acquired last year. Danone had been looking to divest Earthbound since last summer, with an asking price of about $500 million, according to a Bloomberg report quoted in the Salinas Californian.
Founded in 1995, Taylor Farms, headquartered in the Salinas Valley, has a full line of bagged salads and greens.
“We are grateful for Danone’s stewardship of Earthbound Farm during the past two years and for the opportunity to return ownership of this organic fresh produce leader to local roots and family ownership,” the company said in a statement on its website.