(Bloomberg) -- Dean Foods Co. said it has entered an asset purchase agreement with Dairy Farmers of America, through which DFA will acquire a substantial part of its business operations.
The company said Dairy Farmers of America would serve as a proposed stalking-horse bidder in a court-supervised sale process for the assets of Dean Foods.
DFA will acquire 44 of Dean Foods’ fluid and frozen facilities, along with real estate, inventory, equipment and other assets.
To contact the reporter on this story: Erin McClam in New York at emcclam@bloomberg.net
To contact the editor responsible for this story: Sebastian Tong at stong41@bloomberg.net
