Dean Foods Signs Definitive Agreement to Purchase White Wave, Maker of Silk(R) Soy roducts

Dean Foods Signs Definitive Agreement to
Purchase White Wave, Maker of Silk(R) Soy roducts

DALLAS and BOULDER, Colo., May 8, 2002 --

Dean Foods Becomes America's Largest Soymilk
Manufacturer Boulder-Based White Wave
Management Committed to Growing Silk Brand
Pending Litigation Between Dean Foods and White
Wave to Be Dismissed Upon Closing

Dean Foods Company (NYSE: DF) announced today that it
has signed a definitive agreement to acquire the 64%
equity interest in White Wave, Inc. it does not currently
own. White Wave, based in Boulder, Co., is the maker of
Silk(R), the leading refrigerated soymilk in the country, and
had sales of approximately $125 million during the twelve
months ended March 31, 2002.

Dean Foods will purchase the remaining 64% interest in
White Wave for a total price of approximately $189 million,
bringing Dean's total investment to approximately $204
million. Dean Foods anticipates that the transaction will
have a neutral effect on earnings in the first full year after
closing.

Dean Foods Company is one of the nation's largest dairies. The company is
also a leading supplier of pickles
and other specialty food products, juice, juice drinks and water. The
company operates over 120 plants in 38 U.S.
states and 3 countries, and employs more than 30,000 people.

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