Bankrupt Dean Foods drops Dairy Farmers of America as lead bidder
Source: Food Dive
Dairy Farmers of America will no longer serve as the stalking horse bidder for Dean Foods’ planned bankruptcy sale, according to documents filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas in Houston.
For decades, milk consumption has been declining as other drink alternatives and plant-based options pull away consumers who once turned to the beverage. As the struggles continue, Dean Foods likely wants to complete its bankruptcy sale as soon as possible before things worsen even more.