March 29, 2021
Dairy Farmers of America sells former Dean Foods milk plants in Wisconsin and Illinois, US
Dairy Farmers of America (DFA) has finalised the sales of two former Dean Foods Company milk processing plants located in De Pere, Wisconsin, and Harvard, Illinois, the United States.
The purchaser of both plants stems from a new partnership between New Dairy Opco (New Borden), that acquired all of the assets of the now bankrupt Borden Dairy Co., and Select Milk Producers, according to Capstone Headwaters, the market investment banking firm that helped facilitate the sales of the two plants.
As stated by Capstone, the two plants were required to be sold by order of the US District Court for the Northern District of Illinois in the antitrust enforcement action brought by the US Department of Justice Antitrust Division and the attorney generals of Wisconsin and Massachusetts.
"We are proud to have worked with the parties and the Department of Justice to facilitate these sales," said Paul Janson, Capstone Headwaters' chief operating officer. "Our investment banking and restructuring teams were tenacious and effective in completing these sales within a compressed timeframe, in a difficult dairy market, and in the middle of a pandemic."
DFA acquired the two plants in November 2019 shortly after the Dean Foods declared bankruptcy. The purchase price of the plants has not been disclosed.
- Dairy Herd Management