Dean Foods has sold a dairy unit in Wisconsin to private-equity firm OpenGate Capital.
The deal, announced today (15 August), will see OpenGate acquire the Golden Guernsey and La Vaca Bonita brands and a dairy processing plant in the town of Waukesha.
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The dairy processing business manufactures, bottles and distributes its products to schools, grocery stores, convenience stores and major retailers in Illinois, Michigan and Wisconsin. No financial details of the deal have been disclosed.
“OpenGate seeks opportunities to acquire well-recognised brands with solid operations and business fundamentals,” said OpenGate Capital founder and managing partner Andrew Nikou. “This operation, including the Golden Guernsey brand, meets our mark on all accounts. Its facility is very efficient, and its managers are industry experts. By adhering to our disciplined investment criteria, we are able to identify and leverage opportunities with high-potential brands such as Golden Guernsey.”
The deal is subject to regulatory approval and is expected to close in the third quarter.
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