Dean Foods’ soy and organic arm Whitewave Foods Co said it plans to raise up to US$320m in an initial public offering.

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.

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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.

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