WhiteWave Foods is riding the health craze - the natural and organic food company beat Street estimates on the bottom line and raised its Q3 and full year earnings guidance. Denver-based WhiteWave reported $0.26 a share excluding special items, a penny better than the consensus. Revenue came in at $924 million which missed estimates but still were up 10% from the year ago period. WhiteWave's brands include Horizon Organic Milk, Silk soy and almond milk Earthbound Farm and Land O'Lakes. WhiteWave announced it's buying Wallaby Yogurt company for $125 million in cash. Wallaby, which is based in American Canyon, California, makes Kefir drinks as well as Greek and Australian yogurts. WhiteWave's acquisition of Wallaby will allow WhiteWave to expand yogurt manufacturing to the West Coast. The deal is expected to close in the third quarter. WhiteWave also completed its $550 million acquisition of Vega, based in Vancouver. Vega, founded in 2004, sells plant-based powdered shakes and snack bars. It had sales of about $100 million in the past 12 months. WhiteWave Foods management remains optimistic about the company’s future, with expectations that consumers increasingly look for healthy food and beverages, which have now become the core driver for company’s growth. TheStreet's Jim Cramer is bullish on WhiteWave and has said the company is a solid takeover target. Year to date, WWAV is up more than 40%. The stock is much closer to its 52 week high than low.
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