Dean Foods to sell WhitewaveThis article was originally published in Foodnews
DEAN Foods, the US dairy giant, intends to spin off its WhiteWave-Alpro Foods unit by the end of this year. The division makes soy milk and organic milk, butter, coffee creamers and other products.n Neil Murray writes: the sale will be via an Initial Public Offering (IPO) and it is believed that Dean Foods’ own shareholders would end up owning a majority interest in the new company. Dean Foods itself would own 20% of the independent WhiteWave Foods and distribute, tax-free, the rest of its 80% holdings to its own shareholders no later than 180 days after the IPO. Dean Foods’ current chief executive, Gregg Engles, will head the new company as its chief executive. Dean Foods will be run by Gregg Tanner, president of Fresh Dairy Direct, Dean Foods’ largest unit.