Mayfield Dairy is caught up in the Dean Bankruptcy
DALLAS, Texas (WDEF) – America’s changing beverage habits are having an impact on one of the oldest commercial dairies in our area.
The largest milk company in the country, Dean Foods, filed for Chapter 11 bankruptcy on Tuesday.
The national company operates 58 brands, including Mayfield in southeast Tennessee.
“The actions we are announcing today are designed to enable us to continue serving our customers and operating as normal as we work toward the sale of our business,” said Eric Beringause, who recently joined Dean Foods as President and Chief Executive Officer.
So the announcement should not immediately have any impact on Mayfield operations.
Dean is hoping to sell the company to Dairy Farmers of America, a farmer co-op.
“We continue to be impacted by a challenging operating environment.”
Which means that Americans aren’t drinking milk like we used to.
The Department of Agriculture says U.S. milk consumption has dropped 18% over the last decade.
Berigause says there are just more alternatives now.
Analysts say consumers are also turning to plant-based alternatives.
Plus big retailers are producing their own store brand milk.
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