WhiteWave to pay $195M for maker of dairy-free products

BROOMFIELD — The WhiteWave Foods Co. said Wednesday that it has agreed to acquire So Delicious Dairy Free from its shareholders, led by Wasserstein & Co., for approximately $195 million in cash.

Broomfield-based WhiteWave (NYSE:WWAV) intends to fund the acquisition through cash balances and available credit, according to a company statement. The deal is expected to close in the next few months.

So Delicious Dairy Free is based in Eugene, Ore. It produces non-GMO plant-based beverages, creamers, cultured products and frozen desserts. So Delicious had net sales of $115 million for the 12 months that ended June 30.

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WhiteWave manufactures, markets, distributes and sells plant-based foods and beverages, coffee creamers and beverages, dairy products and organic produce throughout North America and Europe.

“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, WhiteWave’s chairman and chief executive, in a prepared statement.