DFA and Dean Foods Reach Purchase Agreement

DFA set to buy significant portion of Dean Foods’ assets and business, subject to a number of approvals from different parties

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Dairy Farmers of America has agreed to become the stalking horse bidder to acquire 44 Dean Foods’ facilities and associated direct store delivery system, as well as certain corporate and other assets and functions, for a base purchase price of $425 million. Under the agreement, DFA also will assume certain Dean Food liabilities. However, the transaction is subject to a variety of approvals, including those of the Bankruptcy Court overseeing Dean’s Chapter 11 reorganization and the U.S. Department of Justice.

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