DENVER — The WhiteWave Foods Co. (NYSE: WWAV) has officially been acquired by French dairy company Danone.
The long-expected deal — which required Danone to divest of Stonyfield Farms, another organic dairy company — closed April 12.
Under the agreement, WhiteWave shareholders will receive $56.25 per share in cash. The total acquisition was for $12.5 billion. WhiteWave common stock has now ceased trading and will be delisted from the New York Stock Exchange.
Danone and WhiteWave are combining their North American activities under one strategic business unit, “DanoneWave.” Lorna Davis will be chief executive officer of the combined entity.
“I am thrilled that we have completed the acquisition of WhiteWave,” Emmanuel Faber, CEO of Danone, said in a statement. “Danone and WhiteWave are a perfect match to build a global leader leveraging consumer trends and expectations for healthier and more sustainable eating and drinking choices.”
Faber added that he looked forward to welcoming the team members from WhiteWave joining Danone.