Good Karma Foods repurchases majority stake from Dean Foods, secures investment

USA – American plant-based dairy alternatives producer, Good Karma Foods, has repurchased its majority ownership from recently bankrupt dairy giant, Dean Foods and secured new investment from Valor Siren Ventures (VSV). Dean Foods had made multiple investments in Good Karma since 2017, ultimately becoming a majority shareholder. However, the company filed for bankruptcy in November 2019 as it struggled with continuing declines in consumer milk consumption and private label competition. Good Karma Foods said the situation presented an opportunity for it to buyout Dean Foods interests and refocus on its ‘Inspiring Goodness’…

Read More

Dean Foods completes sale of its Uncle Matt’s and Meadow Gold Hawaii business

USA – As part of a court-supervised sale process, American dairy company, Dean Foods has announced that it has completed the sale of the its Uncle Matt’s business to Harmoni for US$7.25 million. Dean Foods has also announced the completion of the sale of its Hilo facility and related distribution branches on the Big Island, Kauai and Maui to MGD Acquisition. Dean Foods and MGD Acquisition entered into an asset purchase agreement on April 22nd, after the previously agreed deal with privately-held real estate development and investment firm, Industrial Realty…

Read More

IRG terminates agreement to buy Dean Foods’ Meadow Gold Hawaii Business

USA – Californian-based real estate development and investment firm, Industrial Realty Group (IRG) has terminated the previously announced agreement in principle to buy Dean Foods’ Meadow Gold Hawaii operations for US$25.5 million. The agreement, which was announced on March 31st this year, involved Industrial Realty Group’s acquisition of Meadow Gold Hawaii business including the assets, rights, interests and properties relating to Dean Foods’ Hilo and Honolulu facilities. The deal was later approved by the U.S. Bankruptcy Court for the Southern District of Texas on April 4th.  Dean Foods said that…

Read More

Dean Foods receives court approval for the sale of its assets

USA – The U.S. Bankruptcy Court for the Southern District of Texas has approved the sale of a substantial portion of Dean Foods’ business operations, including the assets, rights, interests and properties valued at approximately US$564 million. The dairy company, which filed for bankruptcy in November last year, had reached an agreement to sell 44 of the company’s fluid and frozen facilities to Dairy Farmers of America (DFA) for US$433 million. Dean Foods said that the sale has been approved. Additionally, the sale of the company’s Uncle Matt’s business to…

Read More

Industrial Realty Group to acquire Dean Foods’ Meadow Gold Hawaii Business

USA – Industrial Realty Group, a privately-held real estate development and investment firm, has reached an agreement with American dairy giant, Dean Foods to purchase the company’s Meadow Gold Hawaii operations as an ongoing business. As part of the agreement, which is subject to final approval by the Bankruptcy Court, Industrial Realty Group will acquire the assets, rights, interests, and properties relating to Dean Foods’ Hilo and Honolulu facilities. If the deal is approved, Industrial Realty Group will be partnering with 8 Cow Dairies, a Hawaii-based company, to manage operations.…

Read More

Dairy Farmers of America to acquire Dean Foods assets for US$425m

USA – The Dairy Farmers of America (DFA) has entered into an asset purchase agreement with America’s largest farmer-owned dairy cooperative, Dean Foods to acquire a substantial portion of Dean Foods’ business operations. As part of the agreement with DFA, Dean Foods will sell 44 of its fluid and frozen facilities and the real estate, inventory, equipment, and all other assets necessary to operate such facilities for about US$425 million. If approved by the Bankruptcy Court at a hearing scheduled for March 12, 2020, DFA will serve as a “stalking…

Read More

Dean Foods finance chief Jody Macedonio steps down

USA – American food and beverage major Dean Foods has announced that the chief financial officer Jody Macedonio has stepped down from the position. Macedonio departure from the company comes just 19 months after her appointment in February 2018 replacing Chris Bellairs who left the company in September 2017. Macedonio had previously worked in various companies including Henkel AG  and PepsiCo Inc. The company has hence appointed Gary Rahlfs as interim finance chief. He has worked as senior vice president focused on finance and strategy at Dean since May 2019.…

Read More

Dean Foods to remain standalone business after strategic review

USA – Dean Foods, America’s leading food and beverage manufacturer has resolved to operate as a standalone unit following a comprehensive review of strategic alternatives, including a possible sale of the company. Dean Foods initiated the review in February this year as it sought to determine a go-forward strategy under new leadership to enhance long-term shareholder value. Under the review, the company was considering various alternatives  including the sale of assets, the formation of a joint venture, going private with a buyer, or an outright sale. Following the review, Dean…

Read More

Dean Foods appoints Eric Beringause new President and CEO

USA – Dean Foods, America’s leading food and beverage manufacturer has appointed Eric Beringause as the company’s new President and Chief Executive Officer effective July 29, 2019. Eric who will also join the Dean Foods Board of Directors as a member, succeeds Ralph Scozzafava, who has stepped down as CEO and resigned from his position on the Board. “We believe Eric is the right leader to drive the transformation of the business as the Company continues to execute on its enterprise-wide cost productivity plan and its previously announced exploration of…

Read More

Dean Foods expands Steve’s Ice Cream range with seven new flavors

USA – Dean Foods’ affiliate Steve’s Ice Cream has launched seven new ice cream flavors, expanding its ice cream range in the US. The maker of Brooklyn Blackout Cake and Small Batch Bourbon Vanilla has also unveiled a new visual identity and campaign for the brand, featuring an artist-designed packaging. The new ice cream flavors, made with grass-grazed milk, include Spearmint Chocolate Brownie, Sicilian Chocolate Cannoli and Cold-Brewed Cinnamon Coffee; and dairy-free flavors, made with organic coconut cream, include Moroccan Mash Up, Passion Carnivale, Cold-Brewed Cinnamon Coffee, and Chocolate Cherry…

Read More