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Contact:
FOR IMMEDIATE RELEASE Carrie
Cardoza Bordona
August 13, 2009 Cardoza
& Associates, Inc. 209-581-2274
(cell) carrie@gocardoza.com COURT APPROVES FOSTER
DAIRY FARMS’ BID TO ACQUIRE HUMBOLDT CREAMERY
ASSETS MODESTO,
Calif. — On August 13, 2009 the bankruptcy judge in Santa Rosa, CA conditionally
authorized the sale of certain assets of Humboldt Creamery to Foster Dairy
Farms of Modesto, California. The assets sold include the company’s
processing plant in Fernbridge, California and the frozen distribution center
in Stockton, California. The transaction is expected to close on August 26,
2009. The condition of a final sale is approval
of a term sheet among the creditor’s committee and Humboldt’s bank lending
group on August 25, 2009. “The Humboldt
Creamery assets are a great complement to our existing business,” commented
Jeff Foster, CEO and President of Foster Dairy Farms. “We look forward to
building an integrated business that carries forward our longstanding tradition
of quality products and excellent service.” Foster Dairy Farms
is family owned and has been operating in California since 1941. The company is led by Jeff Foster, grandson
of the founders. Foster Dairy Farms
produces fluid milk, juices, butter, ice cream, cottage cheese, sour cream, and
powdered milk under multiple brands including the Crystal dairy brand. The company is looking forward to expanding
its reach to include the Humboldt Creamery assets. About Foster Farms
Dairy Foster
Dairy Farms is family owned and has been operating in California since
1941. Today the company is led by Jeff
Foster, grandson of the founders. Almost
seventy years after its founding, Foster Dairy Farms is still committed to the
same principles that founders Max and Verda were when
they started the business: excellence, honesty, quality, service and
people. Producer of a full line of
products including milk, cottage cheese, sour cream, ice cream, and butter the
Dairy remains committed to animal welfare and environmental
sustainability. Producer of Crystal
brand dairy products, Foster Dairy Farms is proud of its long history of providing
its customers the freshest, local dairy products possible.
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