The WhiteWave Foods Company (“The Company”) (NYSE: WWAV) announced that it has agreed to sell certain assets owned by the Company to Morningstar Foods for $60 million, net of taxes, in connection with the separately announced sale by Dean Foods Company of its Morningstar business to Saputo Inc.
In the transaction, the Company agreed to terminate an option to purchase plant capacity and property at a Morningstar facility in Frederick, Maryland as well as agreeing to sell manufacturing equipment used to produce certain WhiteWave products located at Morningstar’s Sulphur Springs, Texas plant.
This transaction is to occur as part of the separately announced sale of Morningstar to Canadian dairy giant Saputo Inc. for $1.45 billion in cash.
Baker Botts represented WhiteWave Foods Company in the transaction.
WhiteWave’s news release is available here.
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