Dean Foods Enters Into Asset Purchase Agreement with Dairy Farmers of America
Dairy Farmers of America to serve as proposed “stalking horse bidder” in a court-supervised sale process for the assets of Dean Foods.
Dean Foods Company (“Dean Foods” or the “Company”) today 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. Pursuant to the agreement, if consummated, DFA will acquire 44 of the Company’s fluid and frozen facilities and the real estate, inventory, equipment, and all other assets necessary to operate such facilities (the “Stalking Horse Assets”).
“We have had a relationship with DFA over the past 20 years, and we are confident in their ability to succeed in the current market and serve our customers with the same commitment to quality and service they have come to expect,” said Eric Beringause, President and Chief Executive Officer of Dean Foods.