© 2013 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
(December 9) – Kainos Capital, a Dallas-based private equity firm, has agreed to sell its organic food brand Earthbound Farm for $600 million to Colorado-based WhiteWave Foods, which was a spinoff from Dean Foods in Dallas.
Haynes and Boone M&A partner Jan Sharry of Dallas advised WhiteWave on the all cash transaction. HayBoo has represented Dean Foods in several transactional matters over the years. Sharry was assisted in the deal by Dallas partner John McGowan, Dallas associates Brandon McCoy, Anthony Montague and Suzie Trigg, Houston associate Kendall Hollrah.
Weil, Gotshall & Manges is representing Earthbound in the deal. Weil’s Dallas office has advised Kainos for more than two decades on various M&A matters. The Dallas lawyers involved in the transaction are corporate partner Glenn West, tax partner Jared Rusman, tax associate Tara Lancaster and corporate associate Samuel Peca.
Both WhiteWave, a leading North America and Europe consumer packaged food and beverage company, and California-based Earthbound Farm are pioneers and innovators in the organic industry and are recognized for creating the high-growth food and beverage categories in which they compete.
Earthbound Farm’s net sales for 2013 are expected to be more than $500 million, making it the largest organic produce brand in North America and the recognized leader in the value-added organic packaged salad category. The company also produces and markets an extensive line of organic fresh fruits and vegetables, frozen fruits and vegetables, and dried fruits and snacks.
WhiteWave manufactures, markets, distributes, and sells branded plant-based foods and beverages, coffee creamers and beverages, and premium dairy products throughout North America and Europe under widely-recognized, leading brands including Silk®, Horizon Organic®, International Delight®, and LAND O LAKES®.
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