US dairy Schreiber Foods has entered into an agreement to buy the customer-brand yoghurt business of Dean Foods, the country’s largest dairy processor.
The acquisition is expected to close in the first quarter of 2011, Schrieber said on Friday (7 January), and includes production facilities in California and Wisconsin, as well as yoghurt production assets from Dean Foods’ facility in New York state.
Financial details of the transaction were not disclosed.
Mike Haddad, Schreiber’s president and CEO, said the acquisition will offer its customers a “coast-to-coast network of yoghurt production and distribution facilities”.
“We’re thrilled about this opportunity to expand our rapidly growing yoghurt business,” Haddad said. “Yoghurt is a dynamic and exciting category that will play an integral role in Schreiber’s mission to be the world’s leading customer-brand dairy company.”
Schreiber is an employee-owned dairy company with annual sales of around US$4bn. Products include cream cheese, natural cheese, process cheese and yoghurt. It has manufacturing, distribution and sales facilities in the US, Austria, Brazil, China, Germany, India, Mexico and Uruguay.