Dean Foods completes sale of assets to Dairy Farmers of America
Dean Foods has completed the previously announced sales of substantially all of its assets, including the sale of the assets, rights, interests, and properties relating to 44 of the company’s fluid and frozen facilities, to subsidiaries of Dairy Farmers of America (DFA).
Dean Foods has completed the previously announced sales of substantially all of its assets, including the sale of the assets, rights, interests, and properties relating to 44 of the company’s fluid and frozen facilities, to subsidiaries of Dairy Farmers of America (DFA).
Dean Foods also announced that it has completed the sale of the assets, rights, interests, and properties relating to eight facilities, two distribution branches, and certain other assets to Prairie Farms Dairy. The company also completed the sale of its facility in Reno, Nev., and its Berkeley Farms trademark and related intellectual property to Producers Dairy Foods.
“We are pleased to complete these transactions, which maximize value for our stakeholders and will enable substantially all of our businesses to continue operating and serving customers across the country,” said Eric Beringause, president and CEO of Dean Foods.
As part of the U.S. Department of Justice’s (DOJ) approval of the transaction, DFA has committed to hold separate and ultimately divest the dairy processing plants located in DePere, Wis., Franklin, Mass., and Harvard, Ill., together with certain assets related to the operations at each plant.
Upon closing of these sales, Beringause has stepped down from his role as president and CEO.
As previously announced on April 4, the U.S. Bankruptcy Court for the Southern District of Texas also approved the sale of Dean Foods’ facility in Miami to Mana Saves McArthur for $16.5 million. The company anticipates completing the transaction early next week.