BROOMFIELD, COLO. — The WhiteWave Foods Co. announced the pricing of its initial public offering of 23 million share of its Class A common stock at $17 per share. The company manufactures and distributes plant-based foods and beverages, coffee creamers and beverages as well as other dairy products throughout North America. The company, which is a carve-out of Dallas-based Dean Foods Co., originally planned to offer 20 million shares at a range of between $14 and $16 per share. The money raised by the i.p.o. will be used to pay down some of Dean Foods’ debt, according to the company.
WhiteWave Foods’ stock will begin trading today on the New York Stock Exchange under the symbol WWAV.
Following the offering, Dean Foods Co. will continue to own approximately 86.7% of the economic interest in WhiteWave’s capital stock and approximately 98.5% of the voting power, or about 85% and 98.3%, respectively.
During the second quarter ended June 30, the WhiteWave-Alpro business unit recorded operating income of $58 million, a 31% increase compared with the same period a year ago, on sales of $573 million, an 11% increase compared with last year.