The purchaser of both plants is a new partnership between New Dairy Opco, which acquired substantially all of the assets of bankrupt Borden Dairy Co., and Select Milk Producers.
The two plants were sold by order of the U.S. District Court for the Northern District of Illinois in the antitrust enforcement action brought by the U.S. Department of Justice Antitrust Division and the attorneys general of Wisconsin and Massachusetts.
The two plants had been acquired by DFA, the successful bidder in the Dean Foods bankruptcy filed in November 2019.
Working with DFA, the Department of Justice and the court-appointed divestiture trustee, investment bank Capstone Headwaters helped facilitate the sales of the plants.
Paul Janson, COO of Capstone, told Capital Press nondisclosure agreements with all parties involved do not allow him to disclose the purchase price of the plants.