Fourth quarter consolidated operating income totaled $83 million, compared to a consolidated operating loss of $50 million in the fourth quarter of 2011. Pro forma adjusted fourth quarter consolidated operating income in 2012 totaled $157 million, a 16 percent increase from the $135 million reported in the fourth quarter of 2011.
The $1.45 billion deal is expected to close by the end of the year.
December 3, 2012
Dean Foods Co. is selling its Morningstar Foods division to Saputo inc. for $1.45 billion on a debt-free basis. The transaction is expected to close by the end of December 2012.
The company will purchase milk and cream from United Dairyman of Arizona.
November 8, 2012
The Franklin Food West facility greatly expands manufacturing capacity for Franklin's rapidly growing Food Service, Industrial, Retail, Private Label and International businesses. This new production capacity will also be used to meet consumer demand for Franklin's recently launched Greek Cream Cheese. New modern technology has been acquired and will be installed to accelerate the company's Mission to "Re-Invent Cream Cheese for Today's Consumers."
Kraft natural cheese, Philadelphia and Velveeta drove strong volume/mix gains.
November 7, 2012
Net revenues in the third quarter grew 3.0 percent to $4.6 billion. Organic Net Revenues increased 3.2 percent from volume/mix gains of 2.6 percentage points and favorable pricing of 0.6 percentage points, reflecting significant gains from new products.