The story
Founded by Gail Borden in 2000.1
Originally part of the Borden Company, the dairy subsidiary was sold in September 1997 to Southern Foods, which was controlled by the Mid-America Dairymen, now the Dairy Farmers of America (DFA). Southern Foods was subsequently acquired by Suiza Foods, now Dean Foods. The DFA retains ownership of Borden cheese.
In 2009, Grupo Lala of Mexico acquired National Dairy from DFA and began conducting US operations as Borden Dairy Company.
In 2013, Borden Dairy was spun off by Grupo Lala into a private company called Laguna Dairy, S.A. de C.V. In 2017, ACON Investments became the majority owner of the Borden dairy business, with Laguna Dairy retaining a substantial equity.
On January 5, 2020, Borden Dairy Company and sixteen affiliated companies filed Chapter 11 bankruptcy in the United States District Court for the District of Delaware citing declining sales. In his affidavit, Jason Monaco, the company's CFO, mentions that the company intends to reorganize and not liquidate its operations. He describes a difficult environment for milk producers that includes decreasing demand for milk, increased competition with non-dairy alternatives, the growth of discount grocery retailers, and the growth of private label alternatives.
In June 2020, it was announced that New Dairy Opco LLC had won the auction for most of Borden's assets, becoming the company's new owner. New Dairy Opco was led by a team composed of the former CEO of Dean Foods, Gregg Engles, and Kohlberg Kravis Roberts (KKR). At the time of the bankruptcy, Borden employed 3,300 workers.
From Wikipedia’s article on Borden Dairy, shared under CC BY-SA 4.0.5