Danone and The WhiteWave Foods Company (WhiteWave) recently announced that they have entered into a definitive merger agreement, where France-based Danone will acquire WhiteWave for $56.25 per share in an all-cash transaction, representing a total enterprise value of approximately $12.5 billion, including debt and certain other WhiteWave liabilities. The Board of Directors of both companies unanimously approved the transaction. Its price represents a premium of approximately 24 percent over WhiteWave’s 30-day average closing trading price ($45.43). The transaction is expected to close by the end of the year, subject to the approval of WhiteWave’s shareholders, regulatory approvals and customary conditions. WhiteWave is a global company which generated $4 billion in sales in 2015 and has a portfolio of large and leading branded platforms in North America and Europe in high-growth, on-trend food and beverage categories which focus on Premium Organic Dairy, non-GMO, plant-based alternatives to milk & yogurt, fresh foods and coffee creamers. With a strong entrepreneurial spirit, WhiteWave has a successful track record of transforming categories and creating large scale brands. WhiteWave’s business includes highly recognized, category-leading brands such as Silk, So Delicious, Vega, Alpro, Provamel, Horizon Organic, Wallaby Organic, Earthbound Farm and International Delight. “At Danone, we constantly [...]
The post Danone to Acquire WhiteWave Foods for $12.5 B appeared first on Vitamin Retailer Magazine.