Dean Foods Co. said Wednesday it will spin off its majority stake in Broomfield-based WhiteWave Foods Inc. to its shareholders.
WhiteWave (NYSE: WWAV) sells Horizon Organic dairy products, Silk soy milk and International Delight coffee creamers.
Formerly a division of Dallas-based dairy giant Dean Foods (NYSE: DF), whose regional brands include Meadow Gold, Pet and Garelick Farms, WhiteWave went public as a separate company last Oct. 26, but Dean still owns most WhiteWave shares.
But on May 23, Dean shareholders will get 47.7 million WhiteWave Class A shares and 67.9 million Class B shares. Holders of Dean common stock will get 0.256 shares of WhiteWave Class A stock and 0.364 shares of WhiteWave Class B stock for each of their Dean shares.
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