Borden Dairy Completes Sale to Capitol Peak Partners and KKR
The Company begins a new chapter with an appropriate capital structure and dairy industry veteran executives focused on serving customers and growing the business profitably
Borden, one of America’s favorite dairy companies founded in 1857, announced on July 21, 2020, that it and certain affiliates (collectively, “Borden” or the “Company”) finalized the approximately $340 million sale of substantially all Borden assets to Capitol Peak Partners and KKR. This transaction allows Borden to be appropriately capitalized with the business intact, including all plants, branches, routes and the Borden brand. The new Borden entity will continue employment for approximately 3,300 Borden employees and service for Borden customers.
ABOUT BORDEN DAIRY COMPANY
Founded in 1857 by Gail Borden, Jr., Borden is a heritage American brand that produces more than 35 wholesome and delicious products enjoyed by millions of people every day. Borden was the first company to develop a patent for the process of condensing milk, as well as the first company to use glass milk bottles. In 1936, Elsie became America's favorite spokes-cow, and was recognized in 2000 by AdAge as one of the top 10 advertising icons of the 20th century. Today, Borden is headquartered in Dallas and operates 12 milk processing plants and nearly 100 branches across the U.S. that produce and distribute nearly 500 million gallons of milk annually for customers in the grocery, mass market, club, food service, hospitality, school and convenience store channels. The company's People First culture has inspired decades of loyal tenure among hundreds of the 3,300 people Borden employs. In 2019, Borden landed the No. 16 spot on Forbes' list of America's Most Reputable Companies, highlighting the company's well-earned trust amongst consumers. For more information, visit bordendairy.com.