WhiteWave Foods has agreed to acquire Wallaby Yogurt Company, Inc. for approximately $125 million in cash.

Founded in 1994 and based in American Canyon, CA, Wallaby is a leading manufacturer and distributor of organic dairy yogurt products that include Greek and Australian yogurts and Kefir beverages. Wallaby had net sales of more than $45 million for the 12months ended June 2015, representing growth of more than 20% during this period.

The addition of Wallaby will strengthen and expand Whit Wave’s growing yogurt portfolio and provide entry into several fast-growing yogurt categories, according to the company. The acquisition also provides WhiteWave with West Coast based yogurt manufacturing capabilities and other expansion and growth opportunities.

The transaction is expected to close  in the third quarter of 2015, subject to regulatory approvals and other customary closing conditions. Management expects the transaction will be neutral to earnings per share in 2015 and slightly accretive to earnings per share by the latter part of 2016, with additional accretion expected thereafter.

WhiteWave has also completed the acquisition of Vega for a purchase price of approximately $550 million in cash. Based in Vancouver, British Columbia, Vega is a pioneer and leader in plant-based nutritional products. The addition of Vega provides WhiteWave with entry into a new and fast-growing category in nutritional powders and bars with additional innovation opportunities, and enhances its position as a global leader of plant¬based foods and beverages.

This business will be overseen by Blaine McPeak, president of the Americas Foods & Beverages segment, with the intention to report its results within the Americas Plant-based Foods  and Beverages platform.