Dean Foods Declare Bankruptcy

[RPM 26267]

Dean Foods, America's largest milk producer, is filing for bankruptcy.

The 94-year-old company has struggled in recent years because Americans are drinking less cows milk. 2019 has been particularly brutal: the company's sales tumbled 7% in the first half of the year, and profit fell 14%. Dean Foods (DF) stock has lost 80% this year.

The company, which produces some of the country's most recognizable milk and dairy products, including Dairy Pure, Organic Valley and Land O'Lakes milks, has blamed its struggles on the "accelerated decline in the conventional white milk category."

The company is saddled with debt and has been unable to fund all of its workers' pensions. So on Tuesday, Dean Foods filed for Chapter 11 bankruptcy protection to keep the business operating, reorganize its debt and help fund the pensions while it looks to sell the company.

Dean Foods said in a statement that it is working with the Dairy Farmers of America cooperative on a potential deal, in which the cooperative would buy almost all of the company.
As part of the bankruptcy process, the company secured $850 million in financing from its existing lenders, including Rabobank (RSWLDD), to keep the company running.

The global market for milk alternatives is expected to top $18 billion this year, up 3.5% from 2018, according to Euromonitor. That's still a fraction of the traditional milk market which will come in at just under $120 billion globally this year.

Sales for cow's milk has been declining for the past four years. Sales for the past 52 weeks, ending on October 26, was around $12 billion, according to data Nielsen provided to CNN Business. That's a decline from $15 billion during a similar time period in 2015. All types of cow's milk, such as 1%, 2%, skim and fat-free milk sales have all declined.

In contrast, and while still much smaller, sales of oat milk has jumped 636% to $53 million over the past year.
That's not the only problem Dean Foods has faced. Walmart (WMT), which was one of Dean Food's biggest customers, dropped them last year after building its own dairy plant.

[Neonmoon 38127]

[Deej 76604]

Just now, Neonmoon said:

And we're done here.

[Incredulity 11567]

“...accelerated decline in the conventional white milk category."

 

thatsracist.gif

[Brisketexan 104776]

But....but....Deans dips are the dean of dips!

[WhatTheBuck 28724]

Dean! Dean! Where do you go when the lights go out?

[Judge Roybeanbag 11810]

15 minutes ago, WhatTheBuck said:

Dean! Dean! Where do you go when the lights go out?

Back to the five and dime.

[SquishMitten 10402]

14 hours ago, Incredulity said:

“...accelerated decline in the conventional white milk category."

 

thatsracist.gif

The unemployment rate of brown cows is at an all time high. We need to subsidize the chocolate milk industry. 

[woohorn 1131]

I sure hope Lefty sold all his shares before the bottom...

[next2naus 436]

well maybe if they paid attention to the market and made some sugar free or less sugar filled Milk. they could also have bought into oat/nut producers. 

[Underdog 28472]

Feel somewhat responsible as I've cut back on my milk consumption this past year.  Gone are the days of a cold glass of God's nectar and chunk of cheese to go with it.  

[TeddyBearStallion 73]

13 minutes ago, Underdog said:

Feel somewhat responsible as I've cut back on my milk consumption this past year.  Gone are the days of a cold glass of God's nectar and chunk of cheese to go with it.  

Hopefully you followed that up with some fiber or a stool softener. 

[crash_davis 23088]

i blame intolerance from the lactose challenged. damn them and their intolerance! 

[gecko 1104]

There is nothing better than a cold glass of whole milk and a warm chocolate cookie.  Fight me.

[Underdog 28472]

I'd imagine a naked, hot n ready Halle Berry would be better, but that's just me. 

[StassneyHorn 6564]

only time I use milk is for cereal, and I haven’t consistently ate cereal/breakfast for 12 years. Blame millennials 

[El Diablo 4232]

7 minutes ago, Underdog said:

I'd imagine a naked, hot n ready Halle Berry would be better, but that's just me. 

Warm mug of cocoa sounds good all of a sudden.

[Celery Man 20908]

 

 

HEB Organics 2% has an expiration date that's a month and a half out from when you buy it.  Unless i go on a cereal kick a half gallon lasts me forever.

[StruggleBus 3922]

I enjoy putting ice in a tall glass of 2% milk. Come at me

[Al_4_ISU 12409]

15 hours ago, Brisketexan said:

But....but....Deans dips are the dean of dips!

If I can't get this shit anymore, someone's gon' die.

[Iceman 2660]

Where are the tits on an oat plant?

[crash_davis 23088]

20 minutes ago, StruggleBus said:

I enjoy putting ice in a tall glass of 2% milk. Come at me

so you like 1% milk.

[StruggleBus 3922]

12 minutes ago, crash_davis said:

so you like 1% milk.

If you drink it fast enough the ice doesn't melt. It's science

[crash_davis 23088]

Just now, StruggleBus said:

If you drink it fast enough the ice doesn't melt. It's science

yea but if you drink it fast enough, the ice doesn't really chill the milk anymore than what already is. 

[tx 3 putt 76532]

1 hour ago, StassneyHorn said:

only time I use milk is for cereal, and I haven’t consistently ate cereal/breakfast for 15 years. Blame millennials 

same here

but i will say, heb organic whole milk is the truth 

[NotActuallyALonghorn 4968]

12 minutes ago, crash_davis said:

yea but if you drink it fast enough, the ice doesn't really chill the milk anymore than what already is. 

That's why I have milk feeding directly into my icemaker. Milk ice, baby!

[Sbbruin 21785]

I blame Californians and their damned soy oat almond hippie milks.

[RPM 26267]

Looks like I'm partially to blame for this. I started drinking Fa!rlife when it came on the market a couple years ago. It's ultra-filtered, ultra-pasteurized whole milk that has the lactose and excess water removed. Tastes great, lasts 3 months.

[Guest Lobo]

3 hours ago, Al_4_ISU said:

If I can't get this shit anymore, someone's gon' die.

You’re gonna be fun to party with again after you get through menopause

[Underdog 28472]

Have some Fairlife chocolate milk in the frig now, that's some thick milk.  

[irishtexan 11455]

I don't drink milk because ever since I turned 35, consuming liquid dairy results in immediate and explosive diarrhea. 

 

[RPM 26267]

4 minutes ago, irishtexan said:

I don't drink milk because ever since I turned 35, consuming liquid dairy results in immediate and explosive diarrhea. 

 

Try Fairlife. It solves that problem.

[Storm the Field 5274]

34 minutes ago, RPM said:

Looks like I'm partially to blame for this. I started drinking Fa!rlife when it came on the market a couple years ago. It's ultra-filtered, ultra-pasteurized whole milk that has the lactose and excess water removed. Tastes great, lasts 3 months.

Gotta have real milk for coffee. Wife and I have been buying HEB's 2% Mootopia for years now. Same thing as Fairlife basically. Excess water and sugar all filtered out, lactose-free. Tastes great. Sell by date is typically 4-6 weeks away. Never gotten close to having it expire before finishing. 

Edited November 13, 2019 by Storm the Field

[BERT 4357]

42 minutes ago, RPM said:

Looks like I'm partially to blame for this. I started drinking Fa!rlife when it came on the market a couple years ago. It's ultra-filtered, ultra-pasteurized whole milk that has the lactose and excess water removed. Tastes great, lasts 3 months.

 

My brain goes right to the "Insecurity" episode of South Park where the old man is telling a story. 

"you want that milk pasteurized?"

"no, just pour it on my boobs, i can splash it passed my eyes"

[Paper_jam 831]

Brief moment of terror when I thought thread title was referring to Jimmy Dean products.

 

[Al_4_ISU 12409]

1 hour ago, Lobo said:

You’re gonna be fun to party with again after you get through menopause

You may be underestimating Dean's ranch dip.  The short lived Buffalo version was the chip dip goat.

[Surly Bevo 24806]

Let’s repurpose some of their supply farms to raise black angus and lower the price of brisket.

 

Fucking hipsters.

 

[Johnny Sack 8397]

Used to be a well run company when Pete Schenkel was running it.   Pete is a close family friend and a hell of a good executive.  

[Deej 76604]

I drink my half gallon a day. Nothing washes food down better than a cold glass of cow juice.

[Radical Larry 28533]

Nm

Edited November 14, 2019 by Radical Larry

[Parliament 14150]

41 minutes ago, Deej said:

I drink my half gallon a day. Nothing washes food down better than a cold glass of cow juice.

This right here.  Skim for me plz.

[WhatTheBuck 28724]

9 hours ago, gecko said:

There is nothing better than a cold glass of whole milk and a warm chocolate cookie.  Fight me.

You meant to say chocolate chip cookie, right?

[gsoda3 3238]

There is nothing better than a cold glass of whole milk and a warm chocolate cookie.  Fight me.

Yes there is. A whole plate of chocolate chip cookies.

We go through 8 gallons a week and that's without my wife or I drinking it. I'm lactose intolerant now and she just doesn't like milk.

[Underdog 28472]

Found a cookie place down in NYC last week, damn good cookie and an cold glass of milk would've been perfect with it.  

[LABEVO 928]

The exec team is incompetent and careened from one disaster to the next without ever learning. 

[CHIEF 5072]

I buy three gallons a day and pour them out to help with my cousin's dairy business. Or, at least, that's what I tell him.

CHIEF

[Serak The Preparer 3430]

20 hours ago, Paper_jam said:

Brief moment of terror when I thought thread title was referring to Jimmy Dean products.

 

Wait - was this you?

 

[Dbeasy 15003]

Try Fairlife. It solves that problem.

Awesome advertising message. “Try Fairlife. It solves explosive diarrhea “

[BabaYaga 15234]

[Neonmoon 38127]

In all seriousness, I don’t really drink milk anymore so I’m part of their problem. I never have a craving for a glass of milk.