James Sands • 25 Comments
Thu, Jul. 7, 7:55 AM
- Investors have bid up WhiteWave Foods (NYSE:WWAV) to as high as $56.80 in the premarket session on some speculation that a higher offer than Danone's $56.25 could arrive down the road.
- Analysts say that WhiteWave has traded with a takeover premium ever since the company spun off from Dean Foods and see a spillover effect across the sector.
- "It is likely this potential transaction further fuels the acquisition speculation gripping the food stocks, pushing multiples even higher," observes Stifel Nicolaus analysts Christopher Guest.
- Hain Celestial (NASDAQ:HAIN), one of the usual food M&A suspects, is up 4.31% in premarket action.
- Previously: Danone agrees to $12.5B deal for WhiteWave Foods (July 7)
- WWAV +19.02% to $56.45.
Thu, Jul. 7, 2:33 AM
- Danone (OTCQX:DANOY), the world's largest yogurt maker, has agreed to buy U.S. health group WhiteWave Foods (NYSE:WWAV) in what would be the French company's largest acquisition in 10 years.
- The offer equates to $56.25 per share in cash, resulting in an enterprise value of around $12.5B, and will double the size of Danone's U.S. business.
- WWAV +18% premarket.
Aug. 19, 2015, 11:38 AM
- Large food companies need to focus on bold M&A and innovation actions over recharging iconic brands, concludes Rabobank in a new report on the sector.
- A shift in consumer preferences has sparked a need to introduce new brands which are on trend - instead of focusing on "innovation-lite" and product reformulation strategies. Buying promising brands at an earlier stage than normal is seen as a forward-thinking strategy.
- Related stocks: KHC, MDLZ, PEP, KO, OTCPK:NSRGY, OTCPK:NSRGF, WWAV, HAIN, K, GIS, POST, CPB, PF, THS.
Jun. 10, 2015, 7:40 AM
- WhiteWave Foods (NYSE:WWAV) acquires Vega for $550M.
- Vegas is active in the growing plant-based nutrition industry and reported sales of over $100M for the last 12 months.
- WhiteWave expects the impact of the purchase to be neutral to slightly positive to EPS in 2015 and add $0.06 to EPS in 2016.
- The deal is expected to close in Q3.
Mar. 25, 2015, 9:27 AM
- Hain Celestial (NASDAQ:HAIN), Pinnacle Foods (NYSE:PF), and WhiteWave Foods (NYSE:WWAV) are all setting up for gains today after the Heinz-Kraft merger raises the M&A profile in the sector.
- Previously: Kraft, Heinz announce merger
- Previously: Food sector on watch after mega-merger announced
- Premarket trading: HAIN +1.9%, WWAV +1.9%, PF +1.0%.
Dec. 22, 2014, 10:39 AM
- Wells Fargo turns the spotlight back on the potential unlocked by a combination of Coca-Cola (KO +1.1%) and WhiteWave Foods (WWAV +1.2%).
- The investment firm thinks a deal, full or partial acquisition, is more likely with Coca-Cola in a "partnership" frame of mind.
- WhiteWave brings new categories to the table, while Coca-Cola's enormous distribution network could take WWAV to the next level.
May 29, 2014, 10:03 AM
- Shares of WhiteWave Foods (WWAV +4.6%), Dean Foods (DF +1.3%), and Sanderson Farms (SAFM +2.7%) are higher after Tyson Foods tops the bid of Pilgrim's Pride for Hillshire Brands.
- Though consolidation in the food sector is expected to pick up, some analysts warn the takeover premium in select stocks is getting played out.
Dec. 9, 2013, 6:47 AM
- WhiteWave Foods (WWAV) is acquiring Earthbound Farm - the largest organic produce brand in North America - for $600M in cash
- The acquisition is expected to be accretive to EPS (+$0.07 before transaction costs) in the first year after close. Subject to regulatory approvals etc., it is expected to be completed during Q1 2014. WhiteWave plans to operate Earthbound Farm as a separate business unit.
- Earthbound's anticipated 2013 net sales are over $500M.
- WhiteWave will fund the acquisition with borrowings under its existing credit facilities, and intends to increase its credit facilities by $500M to fund further growth.
May 23, 2013, 7:05 PM
WhiteWave (WWAV) announces the completion of its spinoff from Dean Foods (DF). In addition, its board has authorized a $150M share repurchase program. The primary purpose of the program will be to offset dilution from WhiteWave’s equity compensation plans, but the company reserves the option to make discretionary, opportunistic purchases as well. WWAV +0.7%, DF +0.3% AH.| May 23, 2013, 7:05 PM