Dairy Farmers of America (DFA) has announced that the previously-announced $425 million deal to purchase the Dean Foods business and assets will not go forward..
Dean Foods, the troubled US dairy company, has filed for bankruptcy back in November, after financial difficulties. Subsequently, DFA proposed a deal to acquire 44 facilities and a substantial portion of its inventory, equipment and other assets.
DFA executive vice president Monica Massey said: “Dean Foods requested to go forward with different bid procedures, and DFA has agreed”.
“DFA is re-evaluating our options, given current circumstances, to bid on Dean’s assets by the 30 March deadline. We believe, any bid we submit will benefit all dairy farmers, as no one has a greater interest in preserving milk markets than we do”, she added.