Dean Forms Branded Subsidiary
DALLAS, TexDean Foods Company plans to consolidate its three branded businessesWhite Wave, Horizon Organic and the Dean National Brand Groupinto a subsidiary headed by White Wave founder Steve Demos.
The newly combined operation will be headquartered in the Boulder, Colo. area and is expected to have 2004 revenue of approximately $1.1 billion. Demos, president of White Wave, will serve as president of the newly consolidated company, and will continue to report to Gregg Engles, chairman and chief executive officer of Dean Foods.
Chuck Marcy, president of Horizon Organic, will assist in the integration of the three businesses and will remain with the company through January 2005. Dean Foods says the change is intended to enable the consolidated company to capture the full potential of its rapidly growing brands, to better serve its customers, leverage its scale, and increase profitability over time. There was no mention in Dean Foods' statement of how the change will affect Mike Keown, president of Dean's National Brand Group.
Keown, a former Minute Maid exec, joined Dean last year after a previous divisional reshuffling that eliminated the Morningstar Foods division.