Dean Foods Company Completes Acquisition of Horizon Organic Holding Corporation
05 Januar 2004 - 12:30PM
PR Newswire (US)
Dean Foods Company Completes Acquisition of Horizon Organic Holding
Corporation Dean Foods Committed to Future Growth of #1 Organic
Milk, Dairy and Juice Brand in the United States and #1 Organic
Milk Brand in the United Kingdom DALLAS and BOULDER, Colo., Jan. 5
/PRNewswire-FirstCall/ -- Dean Foods Company announced today the
completion of the acquisition of Horizon Organic Holding
Corporation . Dean Foods acquired the 87% equity interest in
Horizon Organic it did not already own for approximately $216
million in cash, or $24 per share, and the assumption of
approximately $40 million in debt. Horizon Organic markets the
leading brand of certified organic foods in the United States and
the leading brand of certified organic milk in both the United
States and the United Kingdom. Horizon Organic's product line in
the United States includes organic milk, a full line of organic
dairy products and organic juices, pudding, fruit jels and eggs. In
the U.K., the company markets organic milk, yogurt and butter under
the Rachel's Organic brand. "We are extremely pleased to complete
the acquisition of Horizon Organic, the number one organic milk and
dairy brand in the country," said Gregg Engles, Chairman and Chief
Executive Officer of Dean Foods. "We remain committed to the growth
of healthy, better-for-you products and will build upon Horizon
Organic's passion and commitment to organic foods." "We are very
excited about closing the transaction and the opportunities ahead
for Horizon Organic as a partner with Dean Foods. We look forward
to accelerating our growth and strengthening the leadership
position and leveraging Dean Foods' substantial processing,
distribution and marketing resources," said Chuck Marcy, President
and Chief Executive Officer of Horizon Organic. "We are confident
that this combination will ensure the future growth and extension
of both the Horizon Organic and Rachel's Organic brands." About
Horizon Organic Horizon Organic Holding Corporation markets the
leading brand of certified organic foods in the U.S. and the
leading certified brand of organic milk in both the U.S. and the
U.K. In the U.S. its products include organic milk, a full-line of
organic dairy products, organic eggs and juices. In the U.K., the
Company markets organic yogurt, milk and butter under the Rachel's
Organic brand. For more information, please visit the Company's web
site at http://www.horizonorganic.com/ . About Dean Foods Dean
Foods Company is one of the nation's leading food and beverage
companies. The company produces a full line of company-branded and
private label dairy products such as milk and milk-based beverages,
ice cream, coffee creamers, half and half, whipping cream, whipped
toppings, sour cream, cottage cheese, yogurt, dips, dressings and
soy milk. The company is also a leading supplier of pickles and
other specialty food products, juice, juice drinks and water. The
company operates over 120 plants in 36 U.S. states and Spain, and
employs approximately 28,000 people. Note on Forward Looking
Statements: Some of the statements in this press release are
"forward-looking" and are made pursuant to the safe harbor
provision of the Securities Litigation Reform Act of 1995. These
"forward- looking" statements include statements relating generally
to the Dean Food's ability to profit from the Horizon Organic
acquisition and to grow the Horizon Organic(R) and Rachel's
Organic(R) brands as expected. These statements involve risks and
uncertainties that may cause results to differ materially from the
statements set forth in this press release. Dean Foods' ability to
profit from its branding initiatives will depend on a number of
factors, including primarily customer acceptance of Horizon
Organic's products. The forward-looking statements in this press
release speak only as of the date of this release. Dean Foods
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to such statements to reflect any
change in its expectations with regard thereto or any changes in
the events, conditions or circumstances on which any such statement
is based. Contacts: Dean Foods Cory M. Olson P.I. Aquino SVP and
Treasurer Assistant Treasurer (214) 303-3645 (214) 303-3437 Horizon
Organic Tom Briggs Jennifer J. Matuschek SVP and Chief Financial
Officer Director of Investor Relations 303.530.2711 x 230
303.530.2711 x178 DATASOURCE: Dean Foods Company CONTACT: Cory M.
Olson, SVP and Treasurer, +1-214-303-3645, or P.I. Aquino,
Assistant Treasurer, +1-214-303-3437, both of Dean Foods Company;
or Tom Briggs, SVP and Chief Financial Officer, ext. 230, or
Jennifer J. Matuschek, Director of Investor Relations, ext. 178,
both of Horizon Organic Holding Corporation, +1-303-530-2711 Web
site: http://www.deanfoods.com/ http://www.horizonorganic.com/
Copyright
Amplify Cash Flow High I... (NASDAQ:HCOW)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Amplify Cash Flow High I... (NASDAQ:HCOW)
Historical Stock Chart
Von Dez 2023 bis Dez 2024