USA: WhiteWave Foods Company to acquire So Delicious Dairy Free
The WhiteWave Foods Company has announced an agreement to acquire So Delicious Dairy Free for approximately $195 million in cash.
So Delicious Dairy Free produces plant-based beverages, creamers, cultured products and frozen desserts under the So Delicious Dairy Free brand.
“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, with its 100% plant-based products and non-GMO product offering, had net sales of $115 million for the twelve months ended June 30, 2014 and is expected to continue with this positive trend in the second half of 2014, WhiteWave said in a statement.
Chuck Marcy, Chief Executive Officer of So Delicious Dairy, commented: "Joining the WhiteWave organization will enable us to continue to build on our commitment to bringing dairy-free joy to even more households".