Dean Foods Co

Dairy Foods, Oct, 2004

Dean Foods Co., Dallas, will purchase Parmalat USA Corp's Milk Products of Alabama LLC unit for $21.6 million in cash. Dean outbid rival National Dairy Holdings LP, last month and the U.S. Bankruptcy Court in Manhattan has approved the sale according to reports. At press time, the transaction is set to close by the end of September 2004.

Parmalat USA, the Wallington N J-based unit of financially troubled Italian grocery giant Parmalat Finanziarla SPA, intends to reorganize around its Farmland Dairies LLC division and its New York and New Jersey assets.