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Article: Dean Foods Buys Soymilk Maker
- Article from:
- AP Online
- Article date:
- May 8, 2002
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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DALLAS (AP) _ Dean Foods Co., the nation's largest dairy processor,
said Wednesday it has agreed to pay $189 million for the 64 percent
stake it doesn't already own of White Wave Inc., which makes Silk
refrigerated soymilk.
The agreement also resolves a lawsuit between White Wave and Dean
Foods over Dean's option to buy the remainder of the smaller company.
Gregg Engles, chairman and chief executive of Dean Foods, said soymilk
could be one of the fastest growing lines in the food and beverage
industry.
Including its current stake, Dean Foods will have paid $204 million
for White Wave. Dallas-based Dean Foods said the purchase would have
no effect on earnings in the ...