WhiteWave Foods Co. (NYSE: WWAV) is buying privately-held yogurt maker Wallaby Yogurt Company Inc. in a $125 million cash deal.
American Canyon, California-based Wallaby, founded in 1994, makes Greek and Australian yogurts, generating about $45 million in net sales.
Not only will Wallaby give Denver-based WhiteWave a presence in the yogurt category, but it will also give the company geographic growth opportunities, especially on the West Coast.
Wallaby is not the only purchase WhiteWave has made recently. WhiteWave closed the $550 million acquisition of protein powder maker Sequel Naturals Ltd. from VMG Partners, on August 1.
Buyers are attracted to yogurt companies because consumers continue to opt for healthier food options. In November 2014, Boston private equity firm bought Australian yogurt brand Noosa Yoghurt LLC.
For more on M&A trends in the healthy foods space read Snack Time.