Borden Dairy completes sale to Capitol Peak Partners and KKR
Capitol Peak assumed majority ownership of the new company, and KKR became a lender and minority equity investor.
Borden Dairy Co. said it and certain affiliates finalized the approximately $340 million sale of substantially all Borden assets to Capitol Peak Partners and KKR. This transaction allows Dallas-based Borden to be appropriately capitalized with the business intact, including all plants, branches, routes and the Borden brand. The new Borden entity will continue employment for approximately 3,300 Borden employees and service for Borden customers.
Capitol Peak assumed majority ownership of the new company, and KKR became a lender and minority equity investor. They established a new board of directors and leadership team, tapping dairy industry veterans to lead the company, Borden said.