DALLAS – Dairy Farmers of America (DFA), Kansas City, was the winning bidder to acquire most of Dean Foods’ assets as part of the milk processor’s Chapter 11 auction process. With a bid of $433 million, DFA will acquire 44 of Dean Foods’ fluid and frozen manufacturing facilities.
Prairie Farms Dairy, Carlinville, Ill., will acquire eight processing plants, two of Dean’s distribution branches and other assets for $75 million. Mana Saves McArthur and Producers Dairy Foods, Inc., Fresno, Calif., will acquire plants in Miami, Fla., and Reno, Nev., respectively. Harmoni, Inc. acquired the Uncle Matt’s juice business for $7.25 million.
“We ran a competitive auction process and are pleased to have reached these agreements, which we believe represent the best path forward for our stakeholders,” said Eric Beringause, president and chief executive officer of Dean Foods.
A court hearing to approve the transaction is scheduled for April 3.