Dean Foods inks second yogurt sale; private label biz to Schreiber
Schreiber said it expects to complete the purchase during the first quarter of 2011. Terms were not disclosed.
“We’re thrilled about this opportunity to expand our rapidly growing yogurt business," said Mike Haddad, Schreiber president and CEO. "Yogurt is a dynamic and exciting category that will play an integral role in Schreiber’s mission to be the world’s leading customer-brand dairy company. We’re deep into many strategic initiatives aimed at advancing our yogurt capabilities and this acquisition will enable us to create additional value for our customers by offering a coast-to-coast network of yogurt production and distribution facilities.”
The proposed deal includes production facilities in Fullerton, Calif., and Richland Center, Wis., as well as yogurt production assets from Dean Foods’ facility in Friendship, N.Y.
Schreiber said it sells its products – which include cream cheese, natural cheese, process cheese and yogurt – to leading retailers, restaurants, distributors and food manufacturers worldwide.
Last November saw General Mills agree to purchase Dean's Mountain High Yoghurt business and the Mountain High brand. Officials said Mountain High, a large-size yogurt brand sold in the western United States, will become part of General Mills’ Yoplait USA division.