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Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On August 1, 2015, we completed the acquisition of 100% of Sequel Naturals Ltd, the company that owns the Vega brand ("Vega") and is a pioneer and leader in plant-based nutrition products, for approximately $550 million in cash funded by borrowings under our existing credit facility. This acquisition represents an opportunity for us to extend our plant-based foods and beverages platform into nutritional powders and bars, with additional innovation opportunities. In connection with the acquisition of Vega, we incurred $2.4 million in expenses for the three and six months ended June 30, 2015 related to due diligence, investment advisors and regulatory matters. The expanded disclosures prescribed by ASC 805 have not been presented as we have not begun the process of allocating the purchase price. We intend to include Vega’s results of operations in our statements of income in our Americas Foods & Beverages segment at the date of acquisition.

On August 7, 2015, we announced that we have agreed to acquire Wallaby Yogurt Company, Inc. for approximately $125 million in cash. We intend to fund this acquisition with borrowings under our existing credit facility. Founded in 1994 and based in American Canyon, California, Wallaby is a leading manufacturer and distributor of organic dairy yogurt products including Greek and Australian style yogurts and Kefir beverages. The addition of Wallaby will strengthen and expand our growing yogurt portfolio and provide entry into several fast-growing yogurt categories. The acquisition also provides us with additional West Coast based manufacturing capabilities and further expansion and growth opportunities. The transaction is expected to close in the third quarter of 2015, subject to regulatory approvals and other customary closing conditions. We intend to include Wallaby's results of operations in our statements of income in our Americas Foods & Beverages segment at the date of acquisition.