DENVER, CO
The WhiteWave Foods Company has agreed to acquire So Delicious® Dairy Free from its existing shareholders for approximately $195 million in cash.
“The acquisition of So Delicious represents a great addition to the WhiteWave portfolio and fits squarely within our strategy of driving growth in our core businesses,” said Gregg Engles, Chairman and Chief Executive Officer of WhiteWave.
“So Delicious is an outstanding company and a unique player in the plant-based food and beverage arena, with consumers seeking out the brand for a broad range of great-tasting, dairy-free beverages, creamers and cultured products. So Delicious is also recognized as the #1 plant-based frozen dessert brand in the United States, and it will provide WhiteWave entry into the growing, plant-based frozen dessert category,” Engles added.
So Delicious boasted net sales of $115 million for the twelve months ending of June 30, 2014 and is expected to experience continued growth in the second half of this year, according to a press release.
"Joining the WhiteWave organization will enable us to continue to build on our commitment to bringing dairy-free joy to even more households," said Chuck Marcy, Chief Executive Officer of So Delicious Dairy Free. "For over 25 years, So Delicious has been dedicated to making delicious and responsible, 100% plant-based, non-GMO foods and beverages. WhiteWave shares our passion for uncompromising commitment to non-GMO integrity, environmental stewardship and sustainability. This combination will give us an opportunity to grow our portfolio of dairy-free solutions, and introduce the benefits of dairy-free living to more families.”
The deal is expected to close in a couple months, subject to customary closing conditions. WhiteWave is planning to fund that acquisition through cash balances and available credit, according to a press release. The transaction is expected to increase WhiteWave’s earnings in the first 12 months following the closing.
