There have been some significant developments since our last update February 17. Please read this carefully as this bankruptcy is now on an even tighter timeline than we previously reported. Please also note that this situation is very serious.
It’s a hard time to be a dairy farmer in America: The nationwide decline in milk consumption and the rippling effects of the trade war with China have pushed thousands of farms out of business.
Dairy Farmers of America (DFA) announced Feb. 17 that it has reached a $425 million agreement with Dean Foods for the farmer-owned cooperative to become the stalking horse bidder to acquire a substantial portion of Dean’s assets and business.
Dairy Farmers of America announced Monday that it has agreed to buy Dean Foods, America’s largest milk producer, for $425 million.
Since the last update on January 16, there haven’t been any major developments or announcements. The Teamsters Dairy Conference has submitted a comprehensive information request to Dean in an effort to better understand how Dean plans to move forward in the bankruptcy process.
Federal antitrust regulators are probing a possible deal between a major U.S. dairy cooperative and Dean Foods Co., DFODQ 2.08% the bankrupt milk-processing giant, as the dairy industry realigns after decades of declining milk consumption.
The Teamsters Dairy Conference will continue to update Local Unions and our nearly 5,000 Teamster members working at Dean Foods on key developments in the bankruptcy case. We will post relevant newsletters, articles and key dates in this space.