Markets

Dean Foods Gets U.S. Bankruptcy Court Approval For Sale Of Its Assets

(RTTNews) - Dean Foods Co. said that the U.S. Bankruptcy Court for the Southern District of Texas has approved the sale of a substantial portion of its business operations to Dairy Farmers of America for $433 million. It includes the sale of the assets, rights, interests and properties relating to 44 of the company's fluid and frozen facilities.

The court also approved the sale of the assets, rights, interests, and properties relating to eight additional facilities, two distribution branches and certain other assets to Prairie Farms Dairy for $75 million in cash and the sale of Dean Foods' facility in Miami, Florida to Mana Saves McArthur, LLC for $16.5 million.

The court also approved Producers Dairy Foods' purchase of Dean Foods' Reno, Nevada facility for $3.7 million and its purchase of the "Berkeley Farms" trademark and related intellectual property for $3 million.

In addition, the sale of the company's Uncle Matt's business to Harmoni, Inc. for $7.25 million has been approved, as well as the sale of Dean Foods' Meadow Gold Hawaii operations as an ongoing business to Industrial Realty Group, LLC for $25.5 million.

The company expects to complete all transactions by early May.

In November 2019, Dean Foods filed for Chapter 11 bankruptcy protection.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More