WhiteWave Foods to buy Wallaby Yogurt Co. for $125M

DENVER — The WhiteWave Foods Co. (NYSE: WWAV) announced on Friday that it has closed its $550 million acquisition of Vega and has also struck a deal to acquire California-based Wallaby Yogurt Co., Inc., for about $125 million in cash.

The announcements came as part of WhiteWave’s second-quarter earnings report. The Denver-based packaged-foods company, whose brands include Silk, Horizon Organic and Earthbound Farm, employs more than 500 people in Broomfield, where its Americas Food and Beverage segment is run.

Wallaby makes and distributes organic yogurt products that include Greek and Australian yogurts and Kefir beverages. The company had sales of more than $45 million for the 12 months ending in June of this year.

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Company officials said the acquisition gives WhiteWave not only West Coast-based yogurt-manufacturing capabilities but also “other expansion and growth opportunities.” The deal is expected to close in the third quarter.

The deal for Canada-based Vega, which makes plant-based nutritional products such as powdered shakes and snack bars, closed Aug. 1. Blaine McPeak, president of the Americas Food and Beverage segment, will oversee the business.

WhiteWave reported a net profit during the second quarter of $37.4 million, or 21 cents per share, up from $34.4 million, or 19 cents per share, for the same period last year. Revenue leaped 10 percent to $923.6 million.

WhiteWave shares were trading at $49.40 Friday afternoon, down from Thursday’s close of $50.61.