QUICK LINKS: Vending Videos  |  Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:      

Bookmark this site




Issue Date: Vol. 52, No. 12, December 2012, Posted On: 12/5/2012


Dean Foods Sells Morningstar To Canada's Saputo For $1.45 Billion


Emily Jed
Emily@vendingtimes.net
TAGS: Dean Foods Co., dairy producer, Morningstar sale, Saputo, WhiteWave IPO, dairy products, nondairy extended shelf-life products, creamers, workplace refreshment supplies, ice cream mixes

DALLAS -- Dean Foods Co., the nation's largest dairy producer, has agreed to sell its Morningstar unit to Canadian dairy giant Saputo for $1.45 billion.

Morningstar makes dairy and nondairy extended shelf-life products, including creamers widely distributed by workplace refreshment providers, along with ice cream mixes and whipping cream and cultured products like sour cream and cottage cheese.

Dean Foods says it expects to net $887 million from the transaction, which should close by the end of this year or early 2013.

Morningstar has about 2,000 employees and operates 10 manufacturing facilities in nine states. It had 2011 sales of $1.3 billion.

The combined Saputo and Morningstar business will have about 12,000 employees and 57 manufacturing facilities in five countries. Saputo's U.S. dairy products division, which will be complemented by the Morningstar business, is based in Illinois.

Dean Foods's WhiteWave Foods Co. organic and soymilk unit went public in October, but Dean Foods controls the majority of the company's stock.

The WhiteWave IPO and Morningstar sale will leave Dean as largely a producer of branded and private label milk, which has reportedly been the largest revenue producer for the company, with net sales of $9.6 billion in 2011.


Topic: Coffee Service News

Articles:
  • Harvard School of Public Health: New Genetic Variants Associated With Coffee Drinking
  • NAMA Honors OCS Innovator John Conti As Coffee Legend For 2014
  • SEC Closes Four-Year Keurig Green Mountain Inquiry
  • New $29 Million Mars Drinks Headquarters Creates Center For Innovation
  • USDA Organic Certified Coffee Nespresso-Compatible Capsules Hit Market

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570