In a reversal of the situation of only a few days ago, Dean Foods Company announced that a competitive auction in its Chapter 11 process has resulted in the Dairy Farmers of America (DFA) winning a substantial portion of Dean Foods’ business operations. Subject to final approval by the bankruptcy court, DFA will acquire the assets, rights, interests, and properties relating to 44 of the company’s fluid and frozen facilities for $433 million. Prairie Farms Dairy won the assets of eight additional facilities, two distribution branches and certain other assets for $75 million in cash. Mana Saves McArthur, LLC, and Producers Dairy Foods were the winning bidders for facilities located in Miami, Fla., rida and Reno, Nev., respectively. Harmoni, Inc. was the winning bidder for the Uncle Matt’s business. Less than a week ago, Dean had announced that DFA had terminated its bid for the company’s assets.
[Image Credit: © Dean Foods]