Kansas City-based Dairy Farmers of America has completed its $433 million acquisition of Dean Foods properties. The deal had to clear anti-trust review by the U.S. Department of Justice, the Kansas City Business Journal reports.
DFA, a milk marketing cooperative, will acquire 44 properties from Dean Foods, which filed for bankruptcy protection last year.
Regulators are requiring DFA to divest three fluid milk plants as part of the deal.
The Justice Department noted that it considered the current state of dairy demand, with multiple high-profile bankruptcies recently.
The COVID-19 pandemic has also diminished demand for milk from schools due to shutdowns.
DFA said that the purchase would save close to 11,000 jobs.