Le Mars, Iowa — Dean Foods has announced that they and substantially all of their subsidiaries have initiated voluntary Chapter 11 reorganization proceedings.
Dean Foods has several brands, including Dairy Pure and Land O’Lakes. Wells Dairy sold its fluid milk and cultured dairy division to Dean Foods in 2007 and 2008, including the Le Mars plant.
Dean Foods says they intend to use this process to protect and support their ongoing business operations and address debt and unfunded pension obligations while they work toward an orderly and efficient sale of the Company.
The company also announced that they are engaged in advanced discussions with Dairy Farmers of America regarding a potential sale of substantially all of their assets. If Dean Foods ultimately reaches an agreement on the terms of a sale, the transaction would be subject to regulatory approval and higher or otherwise better offers.
During this process, they say they are operating as normal, continuing to provide customers with an uninterrupted supply of high-quality dairy products, and supporting their suppliers as they say they always have.
Dean Foods says they remain focused on providing the highest levels of quality, service and value.
There has been no report on how this will affect the Le Mars Dean Foods facility, the workers at the Le Mars plant, or the area dairy producers who sell their milk to Dean Foods.
For the full release CLICK HERE
