In July, multinational dairy-focused brand Danone announced its acquisition of WhiteWave Foods—known for its plant-based holdings including Silk, So Delicious, and Vega. As both companies take final steps toward implementing the acquisition, WhiteWave Foods’ shareholders expressed concern over the $10.4 billion purchase price of the company. “Some investors say they are disappointed WhiteWave wasn’t offered more money for the company, which has posted double-digit sales growth with many of its top-selling organic and plant-based products,” Wall Street Journal reporter Kelsee Gee says. WhiteWave shareholder Nick Mazing believes that the company—which reported a net profit of $168 million in 2015 and credited its plant-based holdings for its 28-percent growth in earnings during the first quarter of 2016— should have received 30 to 40 percent more for the merger. With the dairy-free market predicted to reach $35 billion by 2024, Danone’s acquisition of WhiteWave Foods was indeed a steal at the price.
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