GRAND RAPIDS, Mich. — A dairy product manufacturer has agreed to sell its assets to Dairy Farmers of America.
Dean Foods Company announced Monday it has reached an agreement to sell 44 of the company’s facilities, one of which is in Grand Rapids. A location in Livonia wasn’t included in the agreement.
Dean Foods is selling its assets as it deals with Chapter 11 bankruptcy.
An auction will be held March 12 where other companies can bid on Dean Foods’ assets. If another bidder doesn’t offer a higher price than Dairy Farmers of America, the sale will go through as it is already approved.
A letter sent to employees of Dean Foods says they will continue to receive pay on the existing schedule and to conduct business as usual.