In the end, there just wasn't anything left for the creditors to milk out of Dean Foods ($DF).
The Dallas-based company sold off dozens of dairy plants to Dairy Farmers of America in a deal worth about $425 million. Dean Foods - which, last year, was headed into Chapter 11 - described the deal as a "substantial portion" of its operations.
Job postings at deal slid more than 53% from their 2019 peak, until our most recent tally - and they fell steadily leading up to the company's Chapter 11 filing, and then stayed low as Dean looked to maintain low expenses as the company was sold from its creditors to its next owner. Right now, that's Dairy Farmers of America.
But, the deal is by no means done - Dean can listen to other bidders until early April - and a report from the Dallas News cited court documents that highlighted dozens of other potential buyers.
Right now, the dairy industry is utterly being squeezed - milk consumption has fallen steadily since the 1970s and recent diets have questioned the value of dairy in everyday diets as more consumers move to other options like almond and oat milk. The prevalence of big-box stores and larger retailers' push into dairy sales only further hurt Dean Foods, which was before its bankruptcy the largest dairy producer in the country.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Coronavirus concerns crimp Wyndham's otherwise sound quarter
- Social media chatter, share price and job postings all sink for Blue Apron
- Lending Club may be issuing fewer loans - it's definitely getting less attention
