Deal to save Meadow Gold Hawaii collapses
HONOLULU, Hawaii (HawaiiNewsNow) -A deal that would have saved Meadow Gold Hawaii has been dropped.
On Monday, Meadow Gold’s parent company, Dean Foods, said it intended to close its Honolulu facility by April 30.
Just two weeks ago, Dean Foods Company said it reached an ‘agreement in principle’ with Industrial Realty Group, LLC. However, Dean Foods said Industrial Realty ‘terminated’ the deal.
“We are extremely disappointed that we were unable to finalize an agreement for Industrial Realty Group to acquire our Hawaii operations,” said Eric Beringause, President and Chief Executive Officer of Dean Foods.
The company is now working with an unnamed “interested party” to buy Meadow Gold’s Hilo facility.
That agreement would save the Meadow Gold brand. The Bankruptcy Court still needs to sign off.
Dean Foods filed for bankruptcy late last year, impacting local suppliers.
According to its website, Meadow Gold Hawaii has been serving the state since 1897.
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