Largest milk processor in United States files for bankruptcy

Biggest US milk company files for bankruptcy after decades-long drop in consumption

Rabobank said in a statement to DairyReporter that it "is proud of its role in organizing a debt financing package for Dean Foods that provides the company with enough liquidity to continue operations".

"Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption", CEO Eric Berigause said in a statement.

Dean Foods owns a number of recognizable brands, including Dairy Pure.

Dean Foods, America's biggest milk producer, filed for Chapter 11 bankruptcy protection Tuesday.

Dean Foods said in a statement that it is working with the Dairy Farmers of America cooperative on a potential deal, in which the cooperative would buy nearly all of the company.

Since about 1975, the amount of milk consumed per capita in America has dropped by about 40 percent, noted The Associated Press.

That there are so many beverage choices now doesn't help either-bottled waters (flavored or plain, with bubbles or without), juices (cold-pressed or traditional), teas (regular, green, black, red), sodas (old-school, craft, diet).

OnePlus 8 phone series sighted in the wild
Now n apparent prototype of the OnePlus 8 Pro has been spotted with a dual punch-hole display. However, it won't be a first in India as Asus ROG Phone II features the same.

I want to thank all Dean Foods employees for their continued commitment to our customers, our partners and our company.

More recently, health and animal-welfare concerns have also contributed, as more shoppers seek out non-dairy alternatives.

Milk consumption has declined over the past four years, CNN reported.

The decline can be blamed on everything from dairy prices to more productive cows and, of course, millennials. Dean's sales of $7.8 billion past year were down 38% from a decade earlier, the Wall Street Journal reported.

The Dallas-based 94-year old dairy processor - responsible for some of U.S. grocery store's most recognizable brands including Dairy Pure, Organic Valley and Land O'Lakes - has seen a drastic 14 percent drop in profits so far this year, CNN reported. In March 2018, citing low sales, Dean Foods ended contracts with 100 independent farmers in eight states following the announcement that Walmart, Dean Foods' biggest customer, planned to build its own dairy processor to produce private label milk for the chain.

Dean employs 16,000 people and operates 60 processing facilities across the country. The company has produced milk and other products at its downtown Boise plant, at 1301 W. Bannock St., since 1950, according to records from the Ada County Assessors Office.

"That means products from the Dean Foods family of brands, including Meadow Gold, will continue to be available across Idaho", she said. In 2000, Southern Foods was acquired by Suiza Foods Corp., which bought Dean Foods a year later.

Related News:



Most liked

NHS England approves the use of two cannabis-based drugs
Deputy chief executive of Epilepsy Action , Simon Wigglesworth, said the new option could be "life-changing for some". There is estimated to be 3,000 people with Dravet syndrome and 5,000 with Lennox Gastaut syndrome in England.

Christian Serratos looks stunning as Selena in Netflix series
Suzette Quintanilla-Arriaga, Selena's younger sister and former drummer, will serve as one of the show's executive producers. The story is being split into two parts, with the first consisting of six hour-long episodes that is set to debut in 2020.

Tesla flaunts first China-built cars as start of sales nears
Earlier in the day at an awards ceremony in Germany , he said the factory will be near the new Berlin airport. The changes will take effect this month and run through 2025.

Lacklustre Billy Joe Saunders Retains WBO Title With Stunning 11th Round
He looked sluggish in the middle rounds of the contest before suddenly finding the power shots to drop the Argentine three times. The Briton, on his United States debut, conceded "it wasn't a world class performance".

Neil Jones makes a Strictly Come Dancing comeback
Strictly Come Dancing returns to BBC One tonight with the latest results on Sunday 10th November at 7.20pm on BBC One. The comment sparked gasps from the audience, and Claudia attempted to backtrack by saying: 'I don't mean that'.

SpaceX Just Put 60 More Broadband Internet Satellites Into Space
FBN's Cheryl Casone on SpaceX launching its Falcon 9 rocket into orbit in Cape Canaveral, Florida . The total number of satellites that might ultimately end up in orbit is not yet known.

It looks Like You'll Need Disney Plus To Understand Future MCU Movies
As well as Disney delights, the streaming service will also host a heap of Marvel movies, which we're awfully excited to re-watch. Shows like Agents of SHIELD referenced events and characters from the movies.

CT gymnast, 20, dies after 'freak' training accident at university
Her death was confirmed by Southern Connecticut State University. "She was just as wonderful a person". Melanie Coleman was a junior who competed for Southern Connecticut State University.

Sri Lanka passes bill criminalising match-fixing
Now, they are required to report these approaches to the Special Investigation Unit appointed by Sri Lanka's government as well. Just as significantly, the bill also criminalises "acts of omission", which includes failure to report corrupt approaches.

Apple’s AR glasses could be out in four years
They have completely normalized the social oddity of people walking around with little white sticks coming out of their ears. Particularly, Apple is aiming to launch its AR headset in 2022, and a pair of good glasses will adhere to in 2023.

Raptors cool off red-hot Lakers, Jokic's Nuggets on a roll
In his first Finals game he scored 32 points. "And just congratulate them and be able to shake hands and compete". However, he went 6-12 in the second half including crucial transition points that closed the game in the fourth.

Lil Reese Shot, Is in Critical Condition
We are going to hold you up to date with the news as it progresses, despite the fact that Lil Durk tweeted " Reese superior". But it is also interesting to know that the witnesses believe that someone helped the victim to flee the scene.

Raptors' Lowry to miss at least two weeks; Ibaka out indefinitely
Pelicans coach Alvin Gentry bemoaned his team's defense again after the game. "We thought it could be the nail bed", Lowry said. Toronto takes the court against former Raptor Kawhi Leonard for the first time since he signed with the Clippers the next day.

Caitlyn Jenner Arrives in Australia for 'I'm a Celebrity 2019′
Jenner revealed that Jenner/Kardashian clan questioned why she wanted to do the show, to which she responded: "You know what, I need a break, I like challenges".

A Man Is Suing Madonna Because Her Concert Started Hours Late
At her show on Friday Nov. 8, Madonna addressed the lawsuit and complaints. "Here's something that you all need to understand". Pop icon Madonna has been hit with a class-action lawsuit following a repeated inability to turn up to her concerts on time.