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Good quarter for White Wave

Things are going very well at White Wave.  The organic and plant-based beverage and food company reports second-quarter adjusted earnings per share increased 36 percent compared to the same quarter last year.  Excluding a joint venture in China, EPS increased 42 percent.

Net sales were up 36 percent at $838 million and adjusted net income increased 39 percent at $40 million.  The company projects the pace will continue through the remainder of 2014.

White Wave has a 49 percent share in a joint venture with China’s Mengniu Dairy Company to produce and market the company’s products in China.  Production is expected to begin later this year

Originally a wholly-owned subsidiary of Dean Foods, White Wave was spun-off along with the Silk and Horizon Organic names through an Initial Public Offering in 2012.  The deal was completed in May of 2013.

The company markets Silk almond, soy and coconut milks, Horizon Organic dairy products, Earthbound Farms organic produce and International Delight, Dunkin Donuts and Land O Lakes coffee creamers.  The Alpro brand of plant-based dairy alternatives are marketed in Europe.

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