Dean Foods (DF) announced today the agreement to acquire Alpro, a division of the Vandemoortele Group. Alpro is the European market leader in branded soy food products, with the brands Alpro (which targets the retail and out-of-home channels) and Provamel (which is distributed in the specialized organic health store channel). With five manufacturing sites in Belgium, the United Kingdom, France and the Netherlands, Alpro generates annual revenues of e260 million ($360 million).Dean Foods expects the e325 million ($450 million) transaction price to be modestly accretive to 2009 earnings. The transaction is being financed under the company's existing revolving credit facility, and management does not expect the need to raise additional equity as a result of the acquisition.Demand for soy and organic foods have increased rapidly due to growing awareness among consumers regarding the health benefits of soy and organic foods. The Dean Foods brand ...