Largest American Milk Producer Files For Bankruptcy—And Declining Milk Consumption May Be To Blame

Gaia Squarci/Bloomberg © 2018 Bloomberg Finance LP

Correction: The story incorrectly described the relationship between Land O'Lakes and Dean Foods. They two have a licensing agreement. The story and headline have been updated.for bankruptcy Tuesday as it struggled to adapt to major changes in the dairy industry—namely, that Americans are drinking less milk and also turning toward plant-based alternatives—while big retailers are producing their own store-branded milk.

Dallas-based Dean Foods filed for Chapter 11 bankruptcy protection in the Southern District of Texas on Tuesday in order to keep the company running until it can address unfunded debt and pension obligations and keep deliveries going without interruption until the company can find a buyer to acquire the business.

The company is in advanced talks with Dairy Farmers of America, the largest dairy farmer cooperative in the U.S., for a potential sale. As part of the bankruptcy proceedings, the company received $850 million in debtor-in-possession financing from its existing lenders, led by Rabobank, in order to keep the business going until a deal on a sale is reached. : “Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption,” said CEO Eric Beringause in a statement.

Well the biggest profit is cheese anyway

Milkadamia cmon

The dairy industry is barbaric, cruel and unnecessary, so many alternatives now, there is no excuse to not be. Before you buy milk or cheese, see the truth about the industry that is hidden from us. GoVegan dairyfree vegan milkmurders

Go vegan!

ahmedsalimasas asasdairiesltd what’s your take from this

Maybe needed to rethink the I got milk commercials a long time ago, money wasted on celebrities with white stuff around their mouths. Blame the advertisers.

realDonaldTrump what can be done to fix this crisis?

their butter is $2 more than other brands. That's why I don't buy it.

So vegan ppl r winning huh

America has abandoned the curds!

JessLReid will appreciate this :)

The boob butter is safe though, right?

We buy local except the occasional Costco milk purchase

O wow increible

I still buy milk! Maybe theirs is too expensive 🤣

This is bad , milk is very healthy

In a world where generations of kids are deadly allergic to nuts and lactose, I'm gonna enjoy my superpower of being able to eat Snickers and cereal.

not my milk

Is the declining consumption due to a rise in vegan protesting and animal treatment awareness? Have sodas filled the milk void?

Almond milk squad

Damn You Vegans!!! 😂

This is a bad moomen for the economy

GONE SOUR

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