Sale of Earthbound Farm a done deal

01/03/2014 04:01:00 PM
Coral Beach

Earthbound Farm is officially operating under new ownership, but business as usual is promised as the new owners at WhiteWave Foods Co. say they won’t try to fix what’s not broken.

“WhiteWave plans to operate Earthbound Farm as a separate business unit, based in San Juan Bautista, Calif. No significant operational changes are anticipated at Earthbound Farm as a result of the acquisition,” according to a Jan. 3 news release from Denver-based WhiteWave.

Best known for its organic dairy, and dairy substitutes such as Silk-brand, WhiteWave produces and markets plant-based foods and beverages including Horizon Organic and Land O Lakes brands.

WhiteWave chairman and chief executive officer Gregg Engles said in the release that adding Earthbound’s leafy greens and other organic produce products gives his company opportunities in the top two organic food gateways — produce and dairy.

The Denver company paid $600 million in cash for Earthbound Farm. WhiteWave borrowed $500 million via a 7-year loan to finance the acquisition.

When they announced the deal, WhiteWave officials said Earthbound’s administration and employees will be retained for the foreseeable future.



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