Dean Foods Closing Louisville Plant, Laying Off Workers

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. …

While many in the U.S. dairy sector focus on why the nation’s largest milk bottler, Dean Foods, filed for bankruptcy Nov. 12, the smart money—if there is any smart money left after four years of crushingly low milk prices—is focused on what’s next. …

Shares of Dean Foods Co. plummeted 32% in premarket trading Tuesday, after the milk and dairy products seller reported a wider-than-expected second-quarter loss and sales that rose less than analyst projections, amid volume pressure and an “accelerated decline” in the conventional white milk category. …