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Dean Foods attracts takeover interest from Saputo - Globe and Mail

  • Saputo (OTCPK:SAPIF +0.5%) is studying a possible acquisition of Dean Foods (DF -0.9%), which said in February it was exploring strategic alternatives, according to analyst speculation cited in The Globe and Mail.
  • DF is a market leader, selling one in three jugs of milk consumed by Americans each day, and it is relatively inexpensive with a ~$200M market cap, but there is nothing to suggest the U.S. dairy industry will stabilize in the near future, and the company is carrying $887M of debt.
  • Saputo also is considered a potential bidder for sour cream and cottage cheese maker Breakstone; owner Kraft Heinz (KHC +0.3%) is said to have put it up for sale as part of a larger restructuring of the company, with an estimated $400M price tag.

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