So you’ve heard about Golden Guernsey, right?
Golden Guernsey (yes, the web site is still up as though nothing is wrong!) was bought Dean Foods in 2009. Even then it was written that, “… even with the cooperative’s size, it has become difficult for it to meet the needs of retailers that want one milk supplier for a large region or the entire nation.”
In an anti-trust settlement, Dean Foods was forced to sell Golden Guernsey. The suit was brought by the State of Wisconsin, the U.S. Department of Justice and the States of Illinois and Michigan.
It was bought by OpenGate Capital, a venture capitalist company in California, last September. They ran it for awhile before closing last Saturday and declaring Wednesday that Golden Guernsey was filing for bankruptcy.
So distributors were scrambling last week to find sources for milk that they could use to fill their orders. The place where I work bought milk from Golden Guernsey, and when their distributor delivered the milk Wednesday, lo and behold, he delivered milk from Dean Foods.
You can’t make this up!
So what exactly did the Department of Justice accomplish?
And right after I posted, I found this in-depth story.