Dairy Farmers of America finalizes Dean Foods deal with $433 million payment
After months of back and forth and a review from Department of Justice, Dairy Farmers of America paid $433 million on May 1 to close the dale and complete the sale of Dean Foods’ assets.
This means America’s largest dairy cooperative has officially merged with the nation’s No. 1 milk processor. Overall, 44 facilities were sold to Dairy Farmers of America.
“After months of uncertainty regarding the future of these facilities, this transaction will secure milk markets for dairy farmers and ensure nearly 11,000 jobs in communities across the country,” Monica Massey, executive vice president and chief of staff at DFA, told Milkbusiness.com. “As a cooperative founded, owned and governed by family farmers, the finalization of this agreement is important to our commitment to protecting and preserving family dairy farms for generations to come.”
On May 1, DFA began operating the Dean Foods facilities. The DOJ’s review last more than five months.