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Dean Tumbles as Struggling Milk Company Opts to Go It Alone

  • Board ends strategic review, chosing standalone operating plan
  • Dairy producers are grappling with decline in milk consumption
Dean's TruMoo brand chocolate milk

Dean's TruMoo brand chocolate milk

Photographer: Daniel Acker/Bloomberg
Updated on

Top U.S. milk processor Dean Foods Co. is giving up hopes of selling the company and will go it alone under the direction of new Chief Executive Officer Eric Beringause. Shares reversed gains in after-hours trading.

The Dallas, Texas-based company’s board concluded a review of strategic alternatives including a possible sale, saying in a statement Friday that a standalone operating plan under Beringause is the best way to go.