WhiteWave Foods has announced the acquisition of US firm Wallaby Yogurt Co. in a US$125m deal.
Wallaby is a California-based manufacturer and distributor of organic dairy yoghurt products that include Greek and Australian yoghurts and kefir beverages. It had sales of more than $45m for the year ended June 2015.
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"The addition of Wallaby will strengthen and expand WhiteWave’s growing yoghurt portfolio and provide entry into several fast-growing yoghurt categories. The acquisition also provides WhiteWave with West Coast based yoghurt manufacturing capabilities and other expansion and growth opportunities," WhiteWave said.
The transaction is expected to close in the third quarter of the year.
The Alpro and Silk maker increased its full-year earnings per share guidance today, on the back of higher reported net sales and profits during the second quarter.
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