WhiteWave Foods, maker of Horizon Organic and Silk Soymilk, is officially spun-off from Dean Foods Co.
After the stock distribution made at the close of business Thursday, Dean Foods now owns a 19.9 percent stake in WhiteWave. Dean Foods plans to dispose of those holdings — through debt-for-equity exchanges or other tax-free dispositions — within the coming 18 months, officials said.
The spinoff comes roughly seven months after WhiteWave debuted on Wall Street with a $391 million initial public offering.
Blaine McPeak, president of WhiteWave Foods, said the newly independent status would allow for greater flexibility for future product development and sales and operational growth.
Source: The Denver Post, Alicia Wallace