Dean Foods Co. Dips into Distressed Territory
Dean Foods Co. ($DF), the largest US supplier of milk and dairy to retailers with over 50 brands, announced this week that, in light of “a significant amount of change happening in the marketplace” and a “dynamic retail environment,” that it would pursue strategic alternatives (read: a sale, a take-private transaction, asset sales, a JV, or a merger). The company’s stock plunged nearly 12% on the announcement before rebounding slightly later in the week.* It is down 90% since its peak in 2007.
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