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Dean Foods Forms Joint Venture With Jam Producer Hero Group

November 4, 2011: 07:09 PM EST
Dairy product producer Dean Foods announced a 50/50 joint venture with Swiss-based Hero Group, producer of fruit and infant nutrition brands Hero and Beech-Nut. Dubbed Hero/WhiteWave, the new venture will take Dean's WhiteWave business into the jam and chilled fruits business for the first time. Hero has had success with chilled-fruit products in Europe, and believes that North American consumers will be receptive to the products. According to reports, the two companies will develop new healthful products, while sharing technology, manufacturing and distribution capabilities. Dean also announced healthy financial results for the third quarter, with earnings per diluted share on an adjusted basis doubling to $0.28 from a year ago.
Karlene Lukovitz, "Dean Foods Partners With Hero On New Chilled Fruits", Mediapost Publications, November 04, 2011, © MediaPost Communications
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