Dean Foods has agreed to a $140m settlement for a class action lawsuit in which Southeast Dairy Farmers and Dairy Farmers of America had accused it of working to keep prices artificially low.
Dean Foods announced yesterday it is seeking a buyer for the Wisconsin dairy it put up for sale last month as part of a settlement it made with the US Department of Justice.
Standard & Poor’s has revised its rating outlook for Dean Foods warning that rising input costs are likely affect profitability at the company and other dairy processors.
Dean Foods said it is beginning to see signs of stability after a tough 2010 saw the US dairy giant suffer from tough private label competition and retailer promotions.
A federal judge in Milwaukee has denied Dean Foods’ motion to dismiss an antitrust lawsuit that was filed against it by the United States Department of Justice in January.
US Senator Bernie Sanders has called for a Justice Department investigation into Dean Foods for potential antitrust violations, accusing the dairy company of profiting as dairy farmers suffer.
US-based Dean Foods has posted a 10 per cent increase in operating profit over the 2008 fiscal year, amounting to $608m on the back of what it claims has been one of the strongest fourth quarters in the group’s history.
This week, Dean Foods fails to profit form full year sales
improvements, Arla moves to expand cheese production in the US, and
Willi Foods finalises an agreement to produce kosher dairy in
Denmark.
In this week's news roundup, Parmalat denies another out of court
settlement is on the cards, while dairy groups Dairy Crest and Dean
Foods report mix fortunes in dealing with rising commodity costs.
US group Dean Foods yesterday announced plans for an immediate cut
in its workforce, after higher costs for ingredients like milk
forced it to lower its full year earnings expectations.
The growing organic business is gaining more attention from food
manufacturers. In an effort to understand better the benefits of
such products, Dean Foods and its WhiteWave Foods division have
donated $100,000 to the Organic Center...
Dean Foods, the US dairy giant, may be planning a Spanish dairy
acquisition. It has been reported that the company is looking to
begin production in southern Europe.
