November 12, 2019 / 9:38 PM / 24 days ago

Dean Foods, largest U.S. dairy company, files for Ch. 11, in sale talks

U.S. dairy giant Dean Foods Co sought Chapter 11 protection on Tuesday, blaming how Americans are drinking less milk and saying one of its largest creditors may buy it.

Dean, the largest U.S. direct-to-store distributor of dairy products, said in a statement that it aims to conduct an “efficient sale” during Chapter 11 and that it is in advanced talks with one of its largest unsecured creditors, the national cooperative Dairy Farmers of America Inc, about a deal.

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