Dive Brief:
- WhiteWave Foods said it has identified almost $3 billion of additional plant-based product potential in creamers, ice cream, yogurts and future innovations. The company has continued to expand its reach in the plant-based food and beverage markets well beyond the category staple, almond milk.
- WhiteWave introduced Silk cashew milk and has forayed into Silk plant-based yogurt as well as plant-based frozen desserts like cashew milk ice cream and coconut whipped toppings.
- The company has also made use of its 2014 Earthbound Farm acquisition by looking into the frozen vegetable market and expanding the brand's organic packaged salads lineup.
Dive Insight:
WhiteWave has made strategic acquisitions so far this year as well, including Vega Foods, which mainly makes plant-based products like ready-to-drink beverages and bars.
The company's most recent acquisition was Wallaby Yogurt Co., which is helping to widen WhiteWave's footprint in the yogurt industry, particularly in categories like "Greek, Australian organic and drinkable yogurts, all of which have been growing at significantly higher rates than the overall category," said Gregg Engles, chairman and CEO of WhiteWave, during a presentation at the Barclays Global Consumer Staples Conference last week.
WhiteWave has also trimmed its fresh fruit supply chain. The company exited "some unfavorable supplier relationships in the fruit arena," Engles said, as he confirmed that fruit would comprise "a smaller portion of Earthbound’s topline going forward."