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Milk Producer Dean Foods Files for Bankruptcy

Investing.com - Dean Foods (NYSE:DF) has filed for Chapter 11 bankruptcy protection, the company said on Tuesday.

Shares of owner of TruMoo chocolate milk and Meadow Gold ice cream were trading at $0.80 in midday trade as arbitrage continued in the stock.

The company is in talks over potential sales of its assets with the Dairy Farmers of America, Reuters reported. The dairy company was struggling due to a shift away from milk-based products in recent years.

"We continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption," Chief Executive Officer Eric Beringause said.

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