11 September 2009 - Dean Foods' summer acquisition of Alpro from Vandemoortele in Belgium for 325 million euro is expected to cement the company's global leadership in in soy-based beverages.
Further to the acquisition, Dean Foods, already the leader in the North American soy beverage sector thanks to its Silk soy milk brand, now has 11 plants and approximately 2,200 employees worldwide that produce soy-based products. In addition, the combined revenue for Alpro and its own soy milk and organic milk subsidiary WhiteWave amounted to USD 1.9 billion in 2008.
Under its current cost saving programme, Dean Foods believes that WhiteWave is on track to deliver USD 14 million in cost savings in 2009 alone.
Besides the encouraging financial background for its soy beverage operations, Dean Foods is very optimistic about the strategic opportunities in this business.
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Jospeh Scalzo
CEO
WhiteWave Foods, Inc.
part of Dean Foods Company |
In the US, the company expects to develop the soy category beyond beverages and introduce soy-based yoghurts and deserts. In order to proceed, the company will rely on its R&D knowhow in the domain and on synergies with Alpro, who have already developed products in the area and have the knowledge in terms of product formulation and processing technology.
Speaking at an investor conference in Boston on Wednesday, Joseph Scalzo, who is the CEO of WhiteWave-Morningstar, said that the soy category is also an emerging category with enormous potential in innovation and in reaching various types of consumers and in many markets. |
The WhiteWave CEO added that the category may still be nascent. However, he does see a future when soy milk will win over dairy milk.