Milk and dairy supplier Dean Foods Co. -- parent of Boulder's WhiteWave Foods Inc. and other Colorado food brands -- has completed its acquisition of European soy beverage company Alpro, which will be overseen by WhiteWave's CEO.
Alpro is based in Belgium and considered a European leader in the branded soy-based beverage and food business. Alpro is a segment of food company Vandemoortele NV.
Dallas-based Dean Foods (NYSE: DF) said Monday it purchased the company for euro 325 million, or approximately $455 million U.S.
A spokeswoman for Dean said it’s too early to tell if any jobs will be created from the deal. Alpro employs 750 people, all of whom will work under the Dean Foods umbrella while still employed by Alpro, which will operate as a separate European business.
Dean Foods has five manufacturing sites in Belgium, the United Kingdom, France and the Netherlands.
Gregg Engles, Dean Foods chairman and chief executive officer, said the deal put Dean Foods in the position of being the global leader in soy beverages. The company has $1 billion in combined annual retail sales, Engles said in a press statement.
Joe Scalzo, chief executive officer and president of Dean Foods’ WhiteWave-Morningstar division, will oversee the Alpro brand, which is run by CEO Bernard Deryckere.
WhiteWave sells soy-based food products under the Silk brand.
Dean Foods also is the parent of Denver's Robinson Dairy and Broomfield's Horizon Organic Dairy. Horizon is managed under the WhiteWave umbrella.
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