Erie Dairy Sold
ERIE, Pa. (AP) _ Meadow Brook Dairy, a family-owned Erie business for more than 50 years, will be sold to Dean Foods Co. of suburban Chicago.
The sale price was not disclosed.
A letter of intent has been signed for Dean, a major milk and frozen foods company, to acquire all Meadow Brook stock, the companies said in a joint announcement Thursday.
Pending Federal Trade Commission approval, the sale could be closed in 30 days.
Meadow Brook, which has plants Erie and in Cuba, N.Y., makes popular brands of milk, ice cream, cottage cheese and other dairy products sold in the region.
Raymond L. McGarvey, Meadow Brook’s chairman and chief executive, said in a statement that he’s confident the company’s employers, customers and suppliers will benefit from being part of Dean Foods.
Products will still carry the Meadow Brook label and the local company’s management, including president Keith McGarvey, will keep their jobs.
Meadow Brook Dairy had sales of $45 million last year. It buys milk from about 350 dairy farmers in northwestern Pennsylvania and western New York, counting independent producers and dairy co-op members.