Newly formed company DanonWave has committed $60 million to expand production at a Virginia facility used by vegan brand Silk. DanonWave formed in April after French dairy giant Danone announced its $12.5 billion acquisition of WhiteWave Foods—the parent company of plant-based brands such as Silk, So Delicious, Vega, and Alpro. The capital injection will create 49 new jobs in Rockingham County—the community surrounding the facility. “With support of our employees, business operators, and the community at large, including the Commonwealth [of Virginia],” DanonWave chief supply chain officer Dan Poland told media outlet Dairy Reporter, “we are able to provide better-for-you food and beverage choices.” Earlier this year, DanonWave sold its Stonyfield brand—to eliminate competition between the dairy yogurt brand and its new plant-based holdings—and launched a multi-million dollar campaign to promote its vegan ice cream brand So Delicious. In its third quarter earnings report released last week, DanonWave revealed that the WhiteWave acquisition was responsible for pushing its profits to $1.5 billion—an increase of approximately $760 million from the same period last year.
Subscribe now to the world’s #1