Oakhurst Dairy sold to Missouri co-op Dairy Farmers of America
Oakhurst Dairy has been sold to national dairy cooperative Dairy Farmers of America (DFA), according to an announcement by company officials. Oakhurt is the biggest milk processing firm in the northern region of New England, wrote Bloomberg Businessweek.
Under the terms of the exit deal, the current management and workforce of Oakhurst will remain intact. Chairman Bill Bennett said there will be no change for the firm's 210 workers and the 70 dairy farms that supply milk, the report detailed.
DFA is the country's biggest milk-marketing co-op. According to milk and ice cream division chief operating officer Pat Panko, the company represents 8,000 farms and 13,000 dairy farmers, the report stated.
Oakhurst officials said one of the reasons for the sale is that nobody at the family-owned business was in line to manage the diary company. The milk processing and bottling facility has been owned by the Bennett family through three generations, or more than nine decades. According to the Bennetts, it was important for them to see the business survive and thrive, the report explained.
Oakhurst is a milk distributor in Maine, Massachusetts, Vermont, and New Hampshire. The firm is the third-biggest dairy company in New England, Bloomberg Businessweek reported.