Dean completes Alpro acquisition

by Eric Schroeder
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DALLAS — Dean Foods Co. has completed the acquisition of the Alpro division of Vandemoortele n.v. for approximately €325 million ($450 million). Alpro is Europe’s largest branded soy beverage and food processor with net sales of approximately €260 million under the Alpro and Provamel brands. The company has five manufacturing sites in Belgium, the United Kingdom, France and The Netherlands.

Dean said it will finance the acquisition under its existing revolving credit facility. The transaction is expected to be modestly accretive to Dean’s 2009 earnings, excluding transaction-related costs.

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