Apparently Millennials hate milk. Dean’s had a rough couple of years, between Walmart opening their own dairy plants and no longer purchasing from Dean’s, mismanagement of water suppliers in Dean’s supply-chain, and Millennials not drinking as much milk along (plus many question the eco-impact dairy farming has on our environment). According to data from the USDA, we can see a steady decline in milk consumption over time.
Eric Beringause, Dean Foods CEO, stated in a press release,
“The actions we are announcing today are designed to enable us to continue serving our customers and operating as normal as we work toward the sale of our business. We have a strong operational footprint and distribution network, a robust portfolio of leading national brands and extensive private label capabilities, all supported by approximately 15,000 dedicated employees around the country. 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. Importantly, we are continuing to provide customers with an uninterrupted supply of high-quality dairy products, as well as supporting our dairy suppliers and other partners.”