USA: Suiza Foods and Dean Foods to merge, new company to take Dean name
The two largest dairy interests in the US are set to merge. Suiza Foods has confirmed it is to acquire Dean Foods in a deal worth US$2.5bn. Suiza will pay US$1.5bn in cash and stock while also assuming US$1bn of Dean Food's debt. The new company, which is to be called Dean Foods but based in Suiza home city Dallas, will generate enormous sales of around US$10bn. This equates to over 30% of the milk consumed within the US, heralding a major change for the US$25bn market traditionally dominated by smaller, local companies.
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