Dean Foods Completes Spin-Off of WhiteWave Foods

DALLASDairy processor Dean Foods Company has completed its spin-off of Colorado-based WhiteWave Foods, the maker of Horizon Organic and Silk Soymilk. With the completion of the distribution, Dean Foods continues to own 19.9% interest in WhiteWave.

Dean Foods expects to dispose of its retained shares of WhiteWave Class A common stock within 18 months of the distribution in one or more debt-for-equity exchanges or other tax-free dispositions.

"The successful completion of the spin-off of WhiteWave continues to unlock significant shareholder value and represents the final stage of our business separation strategy," said Gregg Tanner, CEO and director of Dean Foods. "We are well positioned to extend our advantages in the dairy industry, and the retention of a minority ownership interest in WhiteWave gives us the ability to monetize our shares in the future to further increase our financial strength."