Schreiber to acquire yogurt assets from Dean
January 10, 2011
by Keith Nunes
GREEN BAY, WIS. – Schreiber Foods has entered into an agreement to acquire Dean Foods’ customer-brand yogurt business. Terms of the agreement were not announced and the transaction is expected to close in the first quarter of 2011.
The proposed acquisition includes manufacturing facilities in Fullerton, Calif., and Richland Center, Wis., as well as yogurt production assets from Dean’s facility in Friendship, N.Y.
“We’re thrilled about this opportunity to expand our rapidly growing yogurt business,” said Mike Haddad, president and chief executive officer, of Schreiber Foods. “Yogurt is a dynamic and exciting category that will play an integral role in Schreiber’s mission to be the world’s leading customer-brand dairy company.
“We’re deep into many strategic initiatives aimed at advancing our yogurt capabilities, and this acquisition will enable us to create additional value for our customers by offering a coast-to-coast network of yogurt production and distribution facilities.”
This is the second yogurt related asset Dean Foods has sold in the past few months. In November, Dean Foods sold its Mountain High Yoghurt business to General Mills, Inc., Minneapolis. Terms of that transaction were not disclosed.