Mo. Co-Op Buys Maine's Prominent Oakhurst Dairy
PORTLAND, Maine (AP) - The largest milk processor in northern New England has been sold to a national dairy farmer-owned cooperative.
Operators of Portland-based Oakhurst Dairy said Friday that the agreement with Kansas City, Mo.-based Dairy Farmers of America will allow it to continue to operate independently while providing opportunities for new growth.
Bill Bennett, Oakhurst chairman, said the management team will remain in place and there will be no change for Oakhurst's 210 employees or the 70 independent dairy farms that supply milk.
Terms of the transaction weren't disclosed.
Bennett said part of the reason for the deal is that no one in the family-owned business is in line to take it over. Bennett's family has owned the Portland dairy operation through three generations.