In announcing the acquisition, effective April 11, Taylor Farms cited “bringing the heritage of another company back to the local community” as a factor in the decision to buy Earthbound Farm.
Earthbound Farm, San Juan Batista, Calif., will join the Taylor Farms Retail Group.
“We will build on Earthbound Farm’s tradition of organic authenticity, new variety development and quality focus with expanded regional organic growing and processing capability to better serve Earthbound Farm’s customers and consumers across North America,” according to a Taylor Farms news release.
The Earthbound Farm brand will remain, with Taylor Farms’ organic products transitioning to the Earthbound Farm brand “over time,” according to the company.
Drew and Myra Goodman founded the company in 1984, growing vegetables on a 2.5-acre plot.
Organic milk and soy milk producer WhiteWave Foods Co. purchased Earthbound Farm in late 2013 for $600 million in cash. Danone acquired WhiteWave in 2017.
“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,” according to Taylor Farms’ release.
Media reports in mid-2018 focused on Danone’s interest in selling the organic salad and vegetable brand, for a reported price tag of $500 million.
According to a Danone news release, Earthbound Farm had sales of about $400 million in 2018.
Taylor Farms and Danone did not disclose financial details of the Earthbound Farm purchase.