Kate Farms, Inc.
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
Valuation
Ratios
People
Deals
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
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
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
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