After several months of back and forth following the Dean Foods bankruptcy, the Dairy Farmers of America (DFA) co-op is acquiring a majority of its assets for $433m. Prairie Farms Dairy will also get a portion for $75m.
Though it was announced last month that Dean Foods and the Dairy Farmers of America (DFA) entered into an asset purchase agreement, that has been mutually terminated. The co-op is still in the running but is no longer the ‘stalking horse’ bidder.
Dean Foods Company has announced that it and certain of its subsidiaries have entered into an asset purchase agreement with Dairy Farmers of America (DFA), through which DFA will acquire a substantial portion of Dean Foods’ business operations.
Dean Foods Company has received approvals from the U.S. Bankruptcy Court for the Southern District of Texas for the "First Day" motions related to the company's voluntary Chapter 11 petitions filed on November 12, 2019.
One of the most well-known dairy companies in the US is prepared to sell its business after years of disappointing numbers. The Dairy Farmers of America (DFA) may be a potential buyer of the Dean Foods assets.
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.
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.