US: Dean Foods to raise $320m in IPO
Dean Foods announced plans to sell shares in up to 20% of The WhiteWave Foods Co in August
In a US Securities and Exchange Commission filing today (17 October), the food group said it will offer 20m Class A common shares for between $14 and $16 per share.
In August, Dean Foods announced plans to sell shares in up to 20% of The WhiteWave Foods Co. in an IPO in New York.
Separately, the company said third-quarter sales for WhiteWave rose 13% to $598m from a year ago, driven by continued "strong" volume growth across the segment's coffee creamers and beverages and plant-based foods and beverages portfolios, and "significant" increases in marketing investments.
Dean said it expects operating income for the segment of $64m, up 22% from a year ago.
Dean Foods Company Announces Preliminary Third Quarter Results for WhiteWave-Alpro Segment and Upcoming Webcast of Third Quarter Earnings Conference Call
DALLAS, Oct. 17, 2012 /PRNewswire/ -- Dean Foods Company (NYSE: DF) today announced that its wholly-owned subsidiary The WhiteWave Foods Company has filed with the U.S. Securities and Exchange Commission ("SEC") an amendment to its pending registration statement relating to its proposed initial public offering. In conjunction with this filing, Dean Foods is announcing preliminary third quarter results for its WhiteWave-Alpro segment. For the three months ended September 30, 2012, WhiteWave-Alpro net sales are expected to have increased 13% to $598 million, from $531 million for the same period in 2011. The increase in net sales in the three months ended September 30, 2012, was driven by continued strong volume growth across the segment's coffee creamers and beverages and plant-based foods and beverages portfolios, led by product innovation and significant increases in marketing investments.
The Company anticipates reporting WhiteWave-Alpro segment operating income of $64 million for the three months ended September 30, 2012, an anticipated 22% increase from the $53 million reported in the same period in 2011.
The operations of The WhiteWave Foods Company will consist of Dean Foods' WhiteWave-Alpro business segment. A reconciliation is provided below between WhiteWave-Alpro segment results and The WhiteWave Foods Company results that are included in the amendment to the registration statement.
Original source: Dean Foods
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