WhiteWave says almond business approaching size of soy
Sales of almond-based products were up 55 percent in 2012.
WhiteWave Foods reported 13 percent growth in sales of its Silk brand plant-based food and beverages, led by an impressive 55 percent growth in almond products. Discussing WhiteWave Foods’ 1Q earnings, CEO Greg Engles said growth in that category means the company’s almond business “is quickly approaching the size of soy and enjoys a similar margin structure.” WhiteWave is also planning to introduce a light almond milk beverage with about a third as many calories as the original formulation. WhiteWave will soon complete its spinoff from Dean, and the company believes it is in a strong position to succeed as a standalone.