Edible oil product company Ventura Foods has entered into an agreement to purchase the Marie's dressings and Dean's dips businesses from Deans Foods Company.

The transaction includes a long-term license agreement whereby Ventura Foods will have the right to use the Dean's trademark on dips, the company said.

Rick Mazer, president and CEO of Ventura Foods, characterized the acquisition as building on the existing position of Ventura Foods in the branded retail food market. "We are excited to be able to add brands of the recognized quality of Marie's dressings and Dean's dips to our portfolio of products," Mazer said. "This acquisition also fits strategically with our established customer relationships, manufacturing capabilities and distribution channels."

The parties expect that the sale will be concluded after the completion of the standard antitrust premerger notification procedures.