Foster Dairy Farm Approves to Acquire Humboldt Creamery Assets
“We look forward to building an integrated business that carries forward our longstanding tradition of quality products and excellent service.”
17 Aug 2009 The bankruptcy judge in Santa Rosa, CA conditionally authorized the sale of certain assets of Humboldt Creamery to Foster Dairy Farms of Modesto, California. The assets sold include the company’s processing plant in Fernbridge, California and the frozen distribution center in Stockton, California. The transaction is expected to close on August 26, 2009. The condition of a final sale is approval of a term sheet among the creditor’s committee and Humboldt’s bank lending group on August 25, 2009.
“The Humboldt Creamery assets are a great complement to our existing business,” commented Jeff Foster, CEO and President of Foster Dairy Farms. “We look forward to building an integrated business that carries forward our longstanding tradition of quality products and excellent service.”
Foster Dairy Farms is family owned and has been operating in California since 1941. The company is led by Jeff Foster, grandson of the founders. Foster Dairy Farms produces fluid milk, juices, butter, ice cream, cottage cheese, sour cream, and powdered milk under multiple brands including the Crystal dairy brand. The company is looking forward to expanding its reach to include the Humboldt Creamery assets.
