Michael Foods to sell division to Dean Foods

Minnetonka MN-based Michael Foods Inc has signed a letter of intent to sell Kohler Mix Specialties Inc — its Dairy Products Division — to Dean Foods Co. Terms of the pending cash transaction were not disclosed. The transaction is expected to close during the third quarter of 2003.

Completion of this transaction depends on items, including execution of a definitive agreement, completion of due diligence, approval by both companies' boards of directors, and receipt of governmental consents. With 2002 net sales of more than $190 million, Kohler Mix Specialties has plants in White Bear Lake MN, Sulphur Springs TX, and Newington CT.

Michael Foods is a diversified food distributor and processor that handles refrigerated grocery products and specialty dairy products. Principal subsidiaries include M G Waldbaum Co, Papetti's Hygrade Egg Products Inc, Crystal Farms Refrigerated Distribution Co, Kohler Mix Specialties, and Northern Star Co.