The Minnesota company is hoping obtain at least $2B in the deal, the news outlet reports.

Cooperative achieved net sales of $16.8 billion and net earnings of $258 million, according to its 2023 annual report.

Wisconsin Cheese Makers Association announces the results of several other elections as well.

Allan Huttema was named Interim CEO in December to replace outgoing CEO, Joe Coote, who left the dairy company with plans to return to his native Australia.

The company expects to complete the reorganization process and sale and emerge forward under new ownership in late June.

The FTC sued to block the merger in February, alleging the transaction was anticompetitive. 

According to the office of Iowa Gov. Kim Reynolds, demand for the company’s products has created the need for an additional manufacturing facility, slated to be 750,000 square feet.

Announced in May 2023, the new facility will serve as fairlife’s flagship Northeast location in Webster, N.Y.

Beth Ford was named to the 2024 TIME100.

The move consolidates Emmi’s market position in the strategic key market of Brazil.