Dean Foods, Dallas

February 17, 2020 Comments Off on Dean Foods Enters into Agreement with Dairy Farmers of America Views: 651 Texas News, Top Texas

Dean Foods Enters into Agreement with Dairy Farmers of America

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Dean Foods Co., headquartered in Dallas, entered into an asset purchase agreement with Dairy Farmers of America (DFA). Once the agreement has been approved by the bankruptcy court, DFA will acquire 44 of Dean Foods’ fluid and frozen facilities, as well as the real estate, inventory, equipment and other assets necessary for operation. Dean Foods filed for Chapter 11 bankruptcy in November 2019.

DFA is serving as a “stalking horse bidder” in a court-supervised sales process, meaning the agreement will set the floor for sales of the assets. Davis Polk & Wardwell LLP and Norton Rose Fulbright are Dean Foods’ legal advisors, Evercore is the company’s investment banker, and Alvarez & Marsal is the financial advisor.

The bankruptcy court hearing will take place on March 12, 2020, with the deadline for interested parties to be considered a bidder for the assets currently scheduled for March 31, 2020. Dean Foods is continuing operations, as usual.

Read more at Businesswire

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