Blog: Dean Foods completes sale of Morningstar Foods division

Michelle Russell | 4 January 2013

US dairy giant Dean Foods yesterday (3 January) confirmed the completion of the sale of its Morningstar Foods division to Saputo, a deal valued at US$1.45bn.

The acquisition by Saputo, which had been rumoured in November before being confirmed last month, will realise around $887m in proceeds for Dean Foods, which the company has said it will use to pay down debt and increase its financial flexibility.

The company had said it was considering the sale of the business, a producer of creams and cultured dairy products for foodservice and own-label firms, back in September. The unit was rumoured at the time to have mostly attracted interest from private-equity firms.

The news follows Dean Foods move to spin off part of its WhiteWave-Alpro business, a unit that manufactures brands including Alpro and Silk soy milk. The company had planned to raise up to $320m from the IPO, which was announced in August, but shares slid on their debut on the New York stock exchange in October.


BLOG

Kellogg takeover chatter cools

Market speculation over a possible takeover of Kellogg surfaced this week, with the snacks-to-cereal maker linked to both Kraft Heinz and Coca Cola Co....

BLOG

More understanding needed of GMOs among consumers

The introduction of legislation requiring the labelling of GMOs in the US has gathered widespread public support....

BLOG

UK report examines "risks and challenges" to food system from climate change

The impact on the global food system is one of "six key priority areas" highlighted in the UK Climate Change Risk Assessment 2017 report, which sets out "the most urgent risks and opportunities" arisi...

BLOG

Brexit – the just-food confidence survey

Following last month's referendum in the UK on the country's membership of the European Union, the repercussions from the decision to leave have been felt far and wide....

just-food homepage



Forgot your password?