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Check Out Line: Dean Foods to milk global soy market

Check Out Dean Foods inking a deal with Vandemoortele N.V.

The largest U.S. dairy company agreed to buy Alpro, the soy products unit of the Belgian company for 325 million eurors, or roughly $450 million, as it tries to venture outside the United States in the soy products market.

Dean, which already has the Silk soymilk and Horizon organic milk brands, is expecting the deal to add modestly to its 2009 earnings. Through the deal, it will have control over Alpro’s two brands — a namesake one for retail and Provamel, for the specialized health category.

The acquisition “establishes Dean Foods as a clear global leader in the attractive soy beverages and related products category, with over $1 billion in combined annual retail sales,” said Dean Foods CEO Gregg Engles.

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(Photo/Reuters)