Foremost Farms sells bottling business

Foremost Farms is the nation's ninth largest dairy cooperative with 2,400 members and 4.697 billion pounds of milk which represents 2.5 percent of the nation's milk supply. In 2008, the cooperative had $1.6 billion in revenue. The cooperative was formed in 1995 when the former Wisconsin Dairies and Golden Guernsey Dairy Cooperatives voted to merge. One year later, the Morning Glory region of Associated Milk Producers, Inc., merged into the newly formed cooperative. It was through those mergers that Foremost acquired the well-known Golden Guernsey and Morning Glory brands.
Foremost officials say the sale allows the cooperative to focus on wholesale markets for cheese, butter, and dairy product ingredients. The cooperative has 10 cheese plants, six dairy ingredient plants, a butter plant, and two farm-milk transfer stations.
Meanwhile, Dean Foods continues to grow its fluid business as the nation's largest dairy processor. Worldwide, Dean ranks fourth for dairy product sales with Nestle (Switzerland), Lactalis (France), and Groupe Danone (France) above it. In the fourth quarter of 2008, Dean posted the strongest quarter in company history with profits of $66.4 million or 42 cents a share. That compares to $32.6 million or 24 cents a share a year ago.
Labels: Deans Foods, Foremost Farms
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home