Investment firm acquires Borden Dairy

by Eric Schroeder
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Borden Dairy Co.
Borden Dairy Co. is one of the largest fresh fluid dairy processors in the United States.
 

WASHINGTON — ACON Investments, L.L.C., a Washington-based private equity investment firm, said it has completed an equity recapitalization of Borden Dairy Co. Based in Dallas, Borden is one of the largest fresh fluid dairy processors in the United States, operating 13 facilities with more than 500 million gallons of annual milk processing capacity.

Borden was spun-off from Grupo Lala into a private company called Laguna Dairy, S.A. de C.V. in 2013. Following the equity recapitalization, ACON said Laguna Dairy will remain a substantial equity holder in Borden.

Financial terms of the transaction were not disclosed.

“Borden is an iconic brand with more than 150 years of heritage,” said Aron Schwartz, managing partner of ACON. “We are excited to be partnering with Laguna Dairy and Borden’s management to accelerate the company’s growth and maintain its position as a market leader. We think this is a powerful example of how ACON’s presence in the United States and Latin America can be leveraged to create deal flow and bespoke solutions for families and strategic owners across the Americas.”

Steve Gorman, general manager of Laguna Dairy, said the transaction confirms the value the company has built during its ownership of Borden.

“We have been searching for the right investor and believe in ACON we have found a capital partner that will maximize the potential of Borden,” Mr. Gorman said. 
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READER COMMENTS (2)

By Joe Hutchinson 7/14/2017 3:07:29 PM
My all-time favorite advertising icon. As a kid in 1960's I grew up with Elsie in Chicago. Cubs Wrigley Field featured Borden's FROSTY Malts as advertised on scorecard. It's a shame CEO's diversified into Krylon spray paint and Wise snacks (cracker Jack too) and let dairy go by the wayside. It could have been the national brand of dairy & ice cream. Long live Borden and Elsie! (at least in the south) If it's Borden it's got to be good!

By Joe Hutchinson 7/14/2017 3:01:11 PM
No Profanity Allowed, Please Retype Your Comment.