Dallas-based Dean Foods has found buyers for “substantially all” of its milk-processing facilities in a federal bankruptcy court-supervised auction.
Dean Foods on Tuesday named winning bidders for its assets, including Dairy Farmers of America and Prairie Farms Dairy. The auction would bring in more than $530 million, and the bids are subject to U.S. bankruptcy court approval on Friday.
Dairy Farmers of America would acquire 44 of the company’s fluid and frozen facilities for $433 million. That agreement was previously announced and included five Texas plants, in Dallas, McKinney, El Paso, San Antonio and Lubbock.
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