After a disappointing 2018 for Dean Foods, it revealed last month that it was considering a sale. Investment management firm Bernstein has announced that it is “discontinuing coverage of Dean Foods (DF) due to the stock's diminished market cap and...
A disappointing fourth quarter for Dean Foods rounded out an under-performing 2018, causing the dairy giant to explore alternatives in its ‘business transformation.’ It is considering a joint venture, business combination or even a sale.
Dean Foods posted a loss of 28 cents per share, or $26.4m in its third quarter. It also closed and consolidated seven manufacturing facilities within six weeks, racking up ‘significant transitory costs’ that are expected to continue.
Dairy price recovery in 2017 has positively affected the combined turnover of the top 20 companies, which, in 2017, was up 7.2% on the year in US dollar terms, according to RaboResearch’s latest report, ‘Global Dairy Top 20 – A Shuffling of the Deck Chairs.’
US food manufacturer Dean Foods Company has increased its ownership percentage and taken a majority stake in Good Karma Foods, the leading brand of flaxseed-based milk and yogurt alternatives.
Dean Foods has ended some of its milk procurement contracts with more than 100 dairy farms, mainly due to a surplus of raw milk in the US at a time when US consumers are drinking less fluid milk.
Dean Foods saw its gross profit drop 8% year-over-year to $1.8bn, driven primarily by a 6% decrease in reported volumes and higher mix of private label products, which the company intends to turn around with an enterprise-wide cost productivity program.
International nonprofit GRAIN has revealed that the world’s top 10 dairy companies emitted roughly 231Mt (million tons) of CO2 in 2016, the equivalent of half of France’s total GHG footprint and a quarter of the emissions emitted by Germany.
Dean Foods reported a 6.6% decrease in fluid milk sales for Q3/17 compared to last year, causing the company to lower its full-year guidance from $50m to $75m to between $10m and $20m.
Dean Foods is closing one of its fluid milk processing plants, PET Dairy, in Richmond, Virginia, as part of its company-wide plan to consolidate operations.
