Dean Foods disclosed Thursday in its annual report that it entered into an agreement to acquire Friendship Dairies Inc. for about $130 million.
The nation’s biggest milk company said the transaction will expand its cultured dairy product capabilities and add a strong regional brand, according to its annual report filed with the Securities and Exchange Commission.
Friendship Dairies is a family-owned manufacturer and distributor of cultured dairy products primarily in the northeastern U.S. Dean Foods said it expects to complete the transaction by the second quarter of 2007, subject to regulatory approval.