Dean Foods initiates Chapter 11 proceedings

Dean Foods Company and substantially all of its subsidiaries have initiated voluntary Chapter 11 reorganization proceedings in the Southern District of Texas to protect and support its ongoing business operations and address debt and unfunded pension obligations. Approximately $850 million in debtor-in-possession financing has been committed to Dean Foods by its existing lenders. Dean Foods also is in advanced discussions with Dairy Farmers of America, Inc. about the sale of virtually all of Dean Foods assets.