Dean Foods Announces Acquisition Plans
Dean Foods Company agrees to acquire the Alpro division of Vandemoortele N.V., Belgium's largest privately-held food company. The transaction's price is approximately euro 325 million and is expected to be completed in the third quarter.
With its Alpro soya and Provamel brands, Alpro is the European leader in branded soy-based beverage and food products with net sales of approximately euro 260 million in 2008. Alpro has five manufacturing sites in Belgium, the United Kingdom, France and the Netherlands, and employs approximately 750 people.
"We think this is a great deal that establishes Dean Foods as a clear global leader in the attractive soy beverages and related products category, with over $1 billion in combined annual retail sales," says Gregg Engles, Dean Foods chairman and CEO. "This is one of the most strategic assets we could have acquired. We see significant opportunities to leverage the collective strengths of both businesses across a global soy platform to accelerate growth."
Alpro CEO Bernard Deryckere will report to Joe Scalzo, CEO and president of Dean Foods' WhiteWave-Morningstar division. Alpro will be run as a separate European business.
"We are confident that this is a winning acquisition," Scalzo says. "We fundamentally believe that the soy market is an emerging category with potential to bring more nutritious soy products to more people in more places around the world."
With its Alpro soya and Provamel brands, Alpro is the European leader in branded soy-based beverage and food products with net sales of approximately euro 260 million in 2008. Alpro has five manufacturing sites in Belgium, the United Kingdom, France and the Netherlands, and employs approximately 750 people.
"We think this is a great deal that establishes Dean Foods as a clear global leader in the attractive soy beverages and related products category, with over $1 billion in combined annual retail sales," says Gregg Engles, Dean Foods chairman and CEO. "This is one of the most strategic assets we could have acquired. We see significant opportunities to leverage the collective strengths of both businesses across a global soy platform to accelerate growth."
Alpro CEO Bernard Deryckere will report to Joe Scalzo, CEO and president of Dean Foods' WhiteWave-Morningstar division. Alpro will be run as a separate European business.
"We are confident that this is a winning acquisition," Scalzo says. "We fundamentally believe that the soy market is an emerging category with potential to bring more nutritious soy products to more people in more places around the world."
