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DALLAS and BOULDER, Colo. - Dean Foods Company announced today the completion of the acquisition of Horizon Organic Holding Corporation. Dean Foods acquired the 87 percent equity interest in Horizon Organic it did not already own for approximately $216 million in cash, or $24 per share, and the assumption of approximately $40 million in debt.
Horizon Organic markets the leading brand of certified organic foods in the United States and the leading brand of certified organic milk in both the United States and the United Kingdom. In the U.K., the company markets organic milk, yogurt and butter under the Rachel's Organic brand.
Gregg Engles, chairman and c.e.o. of Dean Foods, said the company plans to build upon Horizon Organic's commitment to organic foods.