Bankrupt Milk Producer Dean Foods Finds Buyers For ‘Substantially All’ of its Processing Plants

Paul O'Donnell, Dallas Morning News Dairy April 3, 2020

Dallas-based Dean Foods has found buyers for “substantially all” of its milk-processing facilities in a federal bankruptcy court-supervised auction.

Dean Foods on Tuesday named winning bidders for its assets, including Dairy Farmers of America and Prairie Farms Dairy. The auction would bring in more than $530 million, and the bids are subject to U.S. bankruptcy court approval on Friday.

Dairy Farmers of America would acquire 44 of the company’s fluid and frozen facilities for $433 million. That agreement was previously announced and included five Texas plants, in Dallas, McKinney, El Paso, San Antonio and Lubbock.

To read the rest of the story, please go to: Dallas Morning News

Related Articles

Dairy

America’s Biggest Milk Processor is Trading Under a Buck

Bloomberg Dairy June 27, 2019

On Tuesday, shares of Dean Foods—which was based in Franklin Park for more than 70 years until 2001—closed at less than $1 for the first time since they started trading more than two decades ago. The destruction of value—from a peak of $6.2 billion in 2007 to about $90 million now—is as simple to explain as it is dramatic: Americans aren’t drinking as much milk. …