11.03.14
The WhiteWave Foods Company, Denver, CO, has agreed to acquire So Delicious Dairy Free for approximately $195 million. The deal is subject to customary closing conditions.
Best known by consumers for its plant-based beverages, creamers, cultured products and frozen desserts under the So Delicious Dairy Free brand, So Delicious was founded in 1987 by Mark Brawerman, who was CEO until 2013. Based in Eugene, OR, So Delicious’ products are 100% plant-based and its entire product offering is Non-GMO Verified.
So Delicious had net sales of $115 million for the 12 months ended June 30, 2014 and is expected to experience continued strong growth in the second half of 2014.
“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 CEO 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 number one plant-based frozen dessert brand in the United States, and it will provide WhiteWave entry into the growing, plant-based frozen dessert category.”
Mr. Engles continued, “At the same time, So Delicious will provide additional growth opportunities in the dynamic plant-based food and beverage space. It builds on our platform of Silk and Alpro branded products by expanding plant-based capabilities and providing new category opportunities … We believe this is a compelling acquisition that will add a highly complementary brand to WhiteWave’s product portfolio and position us to drive additional shareholder value.”
Best known by consumers for its plant-based beverages, creamers, cultured products and frozen desserts under the So Delicious Dairy Free brand, So Delicious was founded in 1987 by Mark Brawerman, who was CEO until 2013. Based in Eugene, OR, So Delicious’ products are 100% plant-based and its entire product offering is Non-GMO Verified.
So Delicious had net sales of $115 million for the 12 months ended June 30, 2014 and is expected to experience continued strong growth in the second half of 2014.
“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 CEO 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 number one plant-based frozen dessert brand in the United States, and it will provide WhiteWave entry into the growing, plant-based frozen dessert category.”
Mr. Engles continued, “At the same time, So Delicious will provide additional growth opportunities in the dynamic plant-based food and beverage space. It builds on our platform of Silk and Alpro branded products by expanding plant-based capabilities and providing new category opportunities … We believe this is a compelling acquisition that will add a highly complementary brand to WhiteWave’s product portfolio and position us to drive additional shareholder value.”
