<p> During its Company Conference Call today, dairy products producer WhiteWave Foods announced that it has agreed to purchase organic food brand Earthbound Farm for nearly $600 million to expand its offerings of organic products.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> “With Horizon Organic and Earthbound Farm, WhiteWave will now provide the two most popular gateways for consumers to enter into the organic category – produce and dairy,” said Gregg Engles, WhiteWave Chief Executive.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The company plans to operate Earthbound Farm as a separate business, based in San Juan Bautista, CA, with no significant operational changes after the acquisition closes, according to the conference call.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The acquisition was said to extend WhiteWave’s product offering into new on-trend, high-growth category, while providing meaningful growth opportunities. During his statement, Engles says he anticipates the transaction to close during the 1st quarter of 2014, subject to regulatory approvals. The company will fund the acquisition with existing credit facilities, which it also intends to increase by $500 million this month. He expects the acquisition to add to earnings per share in the first year after closing and supplement growth at WhiteWave.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> What can we expect to see in the future from Earthbound under WhiteWave?<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Stay tuned to AndNowUKnow as we follow this acquisition.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" https://www.ebfarm.com/products" target="_new"> Earthbound Farms </a><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.whitewave.com/investors" target="_new"> WhiteWave Foods </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
