Shares of The WhiteWave Foods Company were surging more than 18% in mid-morning trade Thursday after Paris-based yogurt maker Danone (DANOY Quick QuoteDANOY - Free Report) agreed to acquire WWAV for $12.5 billion. Danone will pay $56.25 per share for WWAV, which represents a premium of about 24% over the company’s 30-day average closing price.

The WhiteWave Foods Company is a consumer packaged food and beverage company that manufactures, markets, distributes, and sells branded plant-based foods and beverages, coffee creamers and beverages, dairy products, and organic salads, and fruits and vegetables in North America and Europe. The company has been one of the fastest growing in the industry, as demand for healthy and organic food has continued to grow.

WWAV is currently a Zacks Rank #2 (Buy), and with today’s huge jump, is now up over 45% year-to-date. The company is projected for sales growth of 11.35% this year, with revenues estimated to hit $4.31 billion. The acquisition will be a huge addition for Danone, as it is expected to double the company’s US business.

The deal, which is subject to approval from regulators and WhiteWave’s shareholders, is expected to close by the end of the year.

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