Aug 7, 2015
Wallaby is a manufacturer and distributor of organic dairy yogurt products that include Greek and Australian yogurts and Kefir beverages. It had sales of more than $45m for the year ended June 2015.
“The addition of Wallaby will strengthen and expand WhiteWave’s growing yogurt portfolio and provide entry into several fast-growing yogurt categories. The acquisition also provides WhiteWave with West Coast based yogurt manufacturing capabilities and other expansion and growth opportunities,” WhiteWave said in a statement.
The transaction is expected to close in the third quarter of 2015.
WhiteWave increased its sales and full year earnings per share guidance today, on the back of higher reported net sales and profits during the second quarter.
Janica Lane of Piper Jaffray acted as financial adviser and the Giannuzzi Group of New York acted as legal counsel to Wallaby Yogurt Co.