US food processor and distributor Michael Foods has announced that it has signed a letter of intent to sell its dairy products division Kohler Mix Specialties to Dean Foods for an undisclosed amount.
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The transaction, which is expected to close during the third quarter, is conditional upon several items, including execution of a definitive agreement, completion of due diligence, approval by both companies’ boards of directors and receipt of governmental consents.
Kohler Mix Specialties had 2002 net sales of over US$190m and has three plants located in White Bear Lake, Minnesota, Sulphur Springs, Texas and Newington, Connecticut. Kohler’s product line consists primarily of ice cream mixes, creamers, and soy and organic milk.
