WhiteWave Foods Sales Jump, Helped by Earthbound Farms Aquisition

Organic food maker WhiteWave Foods said it had strong sales in North America and Europe in the third quarter. Sales of its premium and organic products grew to $857 million, up from $639 million in the prior-year period. Its third quarter profit came in at 27 cents a share, which topped expectations as well. In addition to the double-digit growth in North America and Europe, WhiteWave's sales were helped by its newly acquired Earthbound Farms brand. Earthbound Farms is a California-based organic produce grower best known for packaged salad. However, WhiteWave CEO Gregg Engles said this year brought the most difficult operating environment he has seen. Milk prices, for example, have been unpredictable and raw milk costs have jumped 24% compared to a year earlier. The company plans to withdraw its full-year guidance.