Houlihan Lokey Advises Wisconsin Whey Protein

Houlihan Lokey is pleased to announce that Wisconsin Whey Protein (Wisconsin Whey), a respected producer of whey protein isolates in the United States, has entered into a definitive agreement to be acquired by Royal FrieslandCampina N.V. (FrieslandCampina).

Wisconsin Whey will become part of FrieslandCampina Ingredients, a global leader in proteins and prebiotics. With the intended acquisition, FrieslandCampina will also enter into a collaboration with Stainless Technologies, a sister company of Wisconsin Whey that builds state-of-the-art process technology solutions.

Wisconsin Whey is a leading supplier of high-quality whey protein and lactose ingredients, serving the infant, medical, health, and wellness industries. Headquartered in Darlington, Wisconsin, the company operates modern, efficient facilities designed to deliver premium nutritional solutions. With more than 40 years of experience in filtration technologies and dairy processing, Wisconsin Whey offers a comprehensive portfolio, including Whey Protein Concentrates (WPC), Whey Protein Isolates (WPI), and lactose products. By partnering with local dairy farms and leveraging state-of-the-art technology, Wisconsin Whey ensures exceptional quality, sustainability, and innovation for customers worldwide. Wisconsin Whey’s modern facilities—located in the heart of the United States’ dairy region—are currently being expanded, which will more than double its whey protein isolate capacity.

FrieslandCampina is a large international dairy company with a cooperative history dating back more than 150 years. FrieslandCampina processes milk into nutritious dairy products, such as milk, yogurt, condensed milk, dairy-based beverages, cheese, butter, quark, and cream. FrieslandCampina supplies specific nutrition for specific consumer groups, such as children, the elderly, and sportspeople. Professional customers, such as bakers, pastry chefs, chocolate confectioners, chefs, and caterers, rely on FrieslandCampina for a broad range of products, including creams, butters, desserts, and fillings. FrieslandCampina also supplies high-quality ingredients to food producers and pharmaceutical companies.

FrieslandCampina Ingredients is a leader in proteins and prebiotics, providing innovative, nutritious ingredients to address health and well-being challenges worldwide. Its drive is to get the right ingredients to customers—so they can create highly nutritious and specialized applications that help their consumers get the most out of life. FrieslandCampina Ingredients operates globally across the early-life nutrition, active, performance, medical, and cell nutrition market segments. FrieslandCampina Ingredients has regional sales offices in the Netherlands, the United States, Singapore, China, and Brazil.

Houlihan Lokey served as the sole financial advisor to Wisconsin Whey and assisted in structuring and negotiating the transaction on its behalf. This deal represents another successful transaction for Houlihan Lokey in the protein and specialty ingredients space.

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