Kate Farms, Inc.

California

Classification

Private

About

About

Kate Farms, Inc., founded in 2012 by Richard and Michelle Laver, is headquartered in Santa Barbara, California. The company was established to address the nutritional needs of their daughter, Kate, who was diagnosed with failure to thrive and could not tolerate traditional tube-feeding formulas. Kate Farms develops and manufactures plant-based, organic nutritional shakes and enteral formulas designed for easy digestion, targeting both adults and children with chronic illnesses or medical conditions requiring specialized nutrition. The company's products are clinically demonstrated to improve tolerance, weight gain, and adherence, and are available for oral or tube feeding. Kate Farms has become the #1 recommended plant-based formula brand, with products available in over 1,400 U.S. hospitals, broadly eligible for insurance coverage, including Medicare, Medicaid, private plans, and select WIC programs in 30 states. The company was acquired by Danone in 2025, and now operates as part of Danone's North America Medical Nutrition business, continuing its mission to provide high-quality, allergen-free nutrition to support health outcomes. Business/Product Breakdown: Kate Farms offers a range of plant-based, organic nutritional shakes and enteral formulas designed for individuals with dietary restrictions or medical conditions such as chronic illnesses, digestive disorders, or food allergies. Its core products include Standard Formulas (e.g., Standard 1.0, 1.4), Peptide Formulas (e.g., Peptide 1.5, Pediatric Peptide 1.0), and specialized formulas like Renal Support 1.8 and Glucose Support 1.2, tailored for conditions such as kidney disease and diabetes. The company also introduced Pediatric Blended Meals in 2024, available in flavors like Mango & Straw, Squash & Carrot, and Banana & Blue, aimed at children ages 1-13 for sole-source or supplemental nutrition. In 2025, Kate Farms launched Kids Nutrition Shakes in chocolate, vanilla, and strawberry flavors, containing 8g of organic pea protein, 27 vitamins and minerals, and DHA for brain and eye health. All products are USDA Organic, Non-GMO Project Verified, and free of common allergens (dairy, soy, gluten, corn, nuts) and artificial sweeteners, flavors, or preservatives. The formulas use organic pea protein, prebiotic fiber, and phytonutrients to enhance digestibility and gut health. Kate Farms' products are distributed nationally through hospitals, homecare settings, and retail channels like Target, Walmart, and Amazon, with a subscription service offering a 10% discount on recurring deliveries. The company's Innovation and Quality Center in Goleta, California, supports product development, testing over 50 flavor combinations to ensure quality, and operates a pilot plant for small-scale production trials.

Financials

Revenue & Profit

Revenue

Valuation

Valuation

Ratios

Revenue / EBITDA
$123 MM
Valuation / Revenue
$123 MM
Valuation / Employees
$123 MM
EBITDA / Revenue
$123 MM
1-Year CAGR (Revenue)
03
3-Year CAGR (Revenue)
11
1-Year CAGR (Employees)
19
3-Year CAGR (Employees)
96

People

Employee Figures

Employees

Key Executives

NameTitleSocialsEmailPhone
John DoeEmployee
--
Jane DoeEmployee
John DoeEmployee
John DoeEmployee

401K

Total Active Participants
1234
No. Participants with Account Balances
56789
Total Liabilities Start of Year
1234
Total Assets Start of Year
56789

Deals

M&A2024-03-15Completed

Seller

Founders Group

Investor Sponsors

NorthBridge PE

Deal Amount

$120M

Target Company Valuation

$1.20 MM

Techniques

Acquisition of Assets, Taken Private

Stake Tags

100%

Is PE deal

Yes

Is deal PE backed

Yes

Total Acquired

100%

Secondary Transaction2023-09-01Canceled

Target

BrightHealth Technologies

Seller

Early Investors Consortium

Investor Sponsors

--

Deal Amount

Undisclosed

Target Company Valuation

NaN

Techniques

Secondary Sale, Management Buy-out (MBO)

Stake Tags

Majority

Is PE deal

No

Is deal PE backed

Yes

Total Acquired

65%

Funding

Keywords

Keywords

Classified

Private