WhiteWave Foods Co. has agreed to acquire So Delicious Dairy Free from its existing shareholders, led by Wasserstein & Co., for approximately $195 million in cash.
Best known by consumers for its plant-based beverages, creamers, cultured products and frozen desserts under the So Delicious Dairy Free brand, the acquired company was founded in 1987 by Mark Brawerman, who was CEO until 2013. Based in Eugene, Ore., So Delicious’ products are plant-based – which fits with WhiteWave's product line, including Silk soymilk -- and its entire product offering is non-GMO verified.
So Delicious had sales of $115 million for the 12 months ended June 30, and is expected to experience continued strong growth in the second half of 2014, WhiteWave said.
Gregg Engles, WhiteWave's Chairman/CEO, also claimed, "So Delicious is also recognized as the No. 1 plant-based frozen dessert brand in the U.S., and it will provide WhiteWave entry into the growing, plant-based frozen dessert category.”
Chuck Marcy, CEO of So Delicious Dairy Free, indicated he would be staying on.