Marigold Foods, Crowley Foods sold

National Dairy Holdings, a partnership between U.S. dairy industry participants and Dairy Farmers of America, has agreed to purchase Crowley Foods and Marigold Foods from Dutch food group Wessanen for $400 million.

Crowley Foods located in Binghamton, N.Y., and Marigold Foods, located in Minneapolis, Minn., are leading regional dairy processors with combined annual sales of $1 billion in 2000.

This is the second acquisition of processing facilities by Dairy Farmers of America. DFA purchased six bottling plants as part of the Dean-Suiza merger earlier this month.

The sale of the dairy firms by Wessanen allows them to shift their focus back to their core business strategy of natural, health and specialty foods. The sale is pending regulatory approval. However, the company expects the sale to be completed during the second quarter.

Business Wire