No. 1 milk company declares bankruptcy amid drop in demand
MICHELLE CHAPMAN and DEE-ANN DURBIN
AP Business Writers
Dean Foods, America's biggest milk processor, filed for bankruptcy Tuesday amid a decades-long drop-off in U.S. milk consumption blamed on changing trends and a growing variety of alternatives.
The Dallas company said it may sell itself to the Dairy Farmers of America, a marketing cooperative owned by thousands of farmers.
"Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption," CEO Eric Berigause said in a statement.
Since 1975, the amount of milk consumed per capita in the U.S. has tumbled more than 40%. Americans consumed around 24 gallons per year in 1996, according to government
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