M&A Deal Summary

The WhiteWave Foods Acquires Earthbound Farm

On December 9, 2013, The WhiteWave Foods acquired food company Earthbound Farm from Kainos Capital for 600M USD

Acquisition Highlights
  • This is The WhiteWave Foods’ 1st transaction in the Food sector.
  • This is The WhiteWave Foods’ largest (disclosed) transaction.
  • This is The WhiteWave Foods’ 1st transaction in the United States.
  • This is The WhiteWave Foods’ 1st transaction in California.

M&A Deal Summary

Date 2013-12-09
Target Earthbound Farm
Sector Food
Buyer(s) The WhiteWave Foods
Sellers(s) Kainos Capital
Deal Type Add-on Acquisition
Deal Value 600M USD
Advisor(s) Barclays Investment Bank
Houlihan Lokey (Financial)
Weil Gotshal & Manges
Cooley (Legal)

Target

Earthbound Farm

San Juan Bautista, California, United States
website
Earthbound Farm, Inc. is a pioneer in the organic food industry and the market leader in the organic packaged salad category. The Company sells organic packaged salads, fresh and frozen fruits and vegetables and other organic food products to retail grocers, natural food retailers, club stores, mass merchants and food service distributors.

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Buyer(S) 1

Buyer

The WhiteWave Foods

Denver, Colorado, United States

website


Category Company
Founded 1977
Sector Food
Employees5,300
Revenue 4.0B USD (2016)
DESCRIPTION

The WhiteWave Foods Co. is a consumer packaged food and beverage company that manufactures, markets, distributes, and sells branded plant-based foods and beverages, coffee creamers and beverages, premium dairy products and organic produce throughout North America and Europe. WhiteWave is focused on providing consumers with innovative, great-tasting food and beverage choices that meet their increasing desires for nutritious, flavorful, convenient, and responsibly-produced products. WhiteWave was formed in 1977 and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 4
Sector (Food) 1 of 4
Type (Add-on Acquisition) 1 of 4
State (California) 1 of 2
Country (United States) 1 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-17 So Delicious Dairy Free

Eugene, Oregon, United States

So Delicious Dairy Free is a provider of consumers with the broadest selection of delicious alternatives to dairy-based foods and beverages. So Delicious Dairy Free products are proud to offer truly delicious solutions across numerous categories for people with special dietary needs and desires.

Buy $195M

Seller(S) 1

SELLER

Kainos Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Focused
DESCRIPTION

Kainos Capital is a private equity firm focused on the food and consumer products sector. Kainos targets manufacturers and marketers of food products, as well as other consumer products in the household and personal care industries and over-the-counter health and nutritional products sectors. The Firm's target investment size is $50 to $150 million in a company with an EBITDA of $10 to $80 million. Kainos Capital is based in Dallas, Texas.


DEAL STATS #
Overall 7 of 19
Sector (Food) 7 of 12
Type (Add-on Acquisition) 5 of 9
State (California) 2 of 4
Country (United States) 7 of 18
Year (2013) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-07 Milk Specialties Global

Eden Prairie, Minnesota, United States

Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

Buy $340M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-07 InterHealth Nutraceuticals

Benicia, California, United States

InterHealth Nutraceuticals, Inc. is a provider in research, develops, markets and distributes specialty nutritional ingredients, which are sold worldwide to manufacturers of dietary supplements and nutraceutical food and beverage products.

Buy -