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Dean Foods Files for Chapter 11 Bankruptcy Reorganization

  • Advanced talks are underway with Dairy Farmers of America
  • Dean gets a commitment for about $850 million in financing
A half gallon of Dean Foods Co. Dean's brand lowfat cultured buttermilk
Photographer: Daniel Acker/Bloomberg
Updated on

Top U.S. milk processor Dean Foods Co. filed for Chapter 11 bankruptcy and is in advanced talks with Dairy Farmers of America Inc. about a potential sale.

Dean listed assets and liabilities of as much as $10 billion each in court papers filed in Houston, and said in a statement it has commitments for $850 million in bankruptcy financing from existing lenders led by Rabobank. The filing allows Dean to keep operating while it works on a plan to pay creditors and turn the business around.