Dean Foods Company has entered into an asset-purchase agreement with Dairy Farmers of America.
The latter will acquire a substantial portion of Dean Foods’ business operations. If the agreement is finalized Dairy Farmers of America will acquire 44 of Dean’s fluid and frozen facilities. It also will acquire real estate, inventory, equipment and all other assets necessary to operate such facilities.
If approved by the bankruptcy court at a hearing March 12 Dairy Farmers of America will serve as a “stalking horse bidder” in a court-supervised sales process. The agreement with Dairy Farmers of America will set the floor for the sale of the assets. The proposed agreement is subject to better offers. Visit DeanFoodsRestructuring.com or deanfoods.com or dfamilk.com for more information.