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Dean Foods files to amend WhiteWave IPO

Dean Foods files to amend WhiteWave IPO

Recent sales increases were driven by strong volume growth in coffee creamers and beverages and plant-based foods and beverages, sparking Dean's desire to reset WhiteWave's spinoff value.

Dean Foods Company (NYSE: DF) announced that its wholly owned subsidiary The WhiteWave Foods Company has filed with the U.S. Securities and Exchange Commission ("SEC") an amendment to its pending registration statement relating to its proposed initial public offering. In conjunction with this filing, Dean Foods is announcing preliminary third quarter results for its WhiteWave-Alpro segment. For the three months ended Sept. 30, 2012, WhiteWave-Alpro net sales are expected to have increased 13 percent to $598 million, from $531 million for the same period in 2011. The increase in net sales in the three months ended September 30, 2012, was driven by continued strong volume growth across the segment's coffee creamers and beverages and plant-based foods and beverages portfolios, led by product innovation and significant increases in marketing investments.

The Company anticipates reporting WhiteWave-Alpro segment operating income of $64 million for the three months ended September 30, 2012, an anticipated 22 percent increase from the $53 million reported in the same period in 2011.

The operations of The WhiteWave Foods Company will consist of Dean Foods' WhiteWave-Alpro business segment. A reconciliation is provided below between WhiteWave-Alpro segment results and The WhiteWave Foods Company results that are included in the amendment to the registration statement.

Dean Foods will host a live webcast of its third quarter earnings conference call on Nov. 8 at 9:30 a.m. Eastern Time. Management will discuss third quarter results, as well as comment on the forward outlook. The webcast is expected to last approximately one hour and will be accessible by visiting and by clicking on "Webcasts."

In order to listen to the webcast, users will need to have installed either Real Player or Windows Media Player software, which can be detected and downloaded by visiting the site. A webcast replay will be available for approximately 45 days following the event within the Investor Relations section of the Company's web site.

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