NEW YORK (TheStreet) -- Jim Cramer, portfolio manager of Actions Alerts PLUS, and Jack Mohr, research director for AAP, are both still bullish about their current position in WhiteWave Foods (WWAV), the Denver-based organics-food company known for its Silk soy milk and Horizon organic milk.

Cramer said that WhiteWave's stock is being driven by "natural growth to the natural organic category" and by the possibility of a takeover.

Meanwhile, some had feared that WhiteWave is overpaying for nutrition-products maker Vega, a deal announced earlier this week. The price seemed to be more than five times sales, but Mohr said that Vega has grown 40% to 50% this year already, which means that WhiteWave is paying only three times Vega's current sales.

Cramer said that WhiteWave is buying assets in categories "that are not easily made into private labels' where margins are getting cut. Cramer said that means if a company wants to buy WhiteWave, it is going to need to pay even more.

Although Cramer said he understands the desire to get out of WhiteWave when there was no news of it being acquired, "it has really paid not to flip WhiteWave."

Mohr said that WhiteWave's strategy with its acquisitions and spinoffs have put it in a strong position.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS owned shares of WhiteWave.

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