Dean Foods divests Uncle Matt’s business to Harmoni

US-based dairy company Dean Foods has announced it has completed the sale of its Uncle Matt’s business to Harmoni for $7.25m.

The deal was earlier approved by the US Bankruptcy Court for the Southern District of Texas.

It also includes a licence to the Meadow Gold Hawaii brand name and related intellectual property to MGD Acquisition.

Dean Foods president and CEO Eric Beringause said: “These transactions are great outcomes for our Uncle Matt’s and Meadow Gold Hawaii businesses that will ensure that they can continue to provide the healthy, great-tasting products that customers love.

“The close of these transactions also marks an important milestone in our court-supervised sale process, and we are focused on swiftly completing the remainder of our previously announced sales. We thank our employees for their continued patience, hard work and dedication as we have worked through this process.”

Additionally, the company sold its Hilo facility and associated distribution branches on the Big Island, Kauai and Maui.

Last month, Dean Foods signed an agreement with MGD Acquisition to divest its Hilo facility, as well as associated distribution branches on the Big Island, Kauai and Maui, Hawaii.

The deal also included the licence of the Meadow Gold Hawaii brand name and related intellectual property.

MGD Acquisition plans to operate the assets as an ongoing business and will continue to serve the Hawaiian community.

Dean Foods anticipates completing all the remaining transactions soon.