The nation's second largest full-line dairy last month purchased Sinton Dairy, Colorado Springs. Sinton, Colorado's second largest processor, with more than 220 employees, had been 50% owned by partners Larry Losasso and Joel Midkiff. Losasso has retired and Midkiff remains with Sinton as general mgr.
Dairy Farmers of America owned the other 50%, and is also 50% owner of National Dairy.
Midkiff says that with Losasso retiring, they wanted the company to be in good hands.
"We were looking for somebody committed to the business, who has a long-term commitment to the dairy industry and certainly DFA, is that somebody," He said. "With its dairy partnership in National Dairy Holdings, there should be a number of synergies that will help make Sinton's future much more secure."
Losasso and Midkiff managed Sinton for the past 16 years. Along with DFA, they led a 1987 management buyout of Sinton from bankrupt Associated Grocers of Colorado. Sinton completed a $10 million plant expansion in May.
Last month National Dairy also acquired a plant in Chattanooga, Tenn., as part of a sale of the Golden Gallon convenience story chain.