Dairy Farmers of America (DFA), Kansas City, Kan., announced the closing of its transaction to acquire a substantial portion of the assets of Dallas-based Dean Foods Co.
“With the final closing, DFA will pay $433 million to acquire 44 of Dean’s facilities, as well as certain corporate functions,” said Monica Massey, executive vice president and chief of staff, DFA. “As part of the agreement with the Department of Justice, DFA will divest of three facilities located in De Pere, Wis., Harvard (Chemung), Ill., and Franklin, Mass.
“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,” she added. “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.”