With DFA having to now sell off three plants, including Franklin MA, will the original owner, finacial advisor for dfa, Al Bernon purchase back the company. Rumor has it Yes. Any insight?
23 replies (most recent on top)
They sell franklin yet?
Well on the DFA side speculation is that Walmart could step in and try to get Franklin, who knows! Maybe DFA builds a new plant and joins some local depots from surrounding areas, If Franklin goes thank Oakhurst and Guida will have to pick up slack and I don’t think we can handle it, but whatever happens I feel sorry who looses there job.
Yeah! Find a job
Any update on franklin or haverhill depot any body heard anything
They gonna close down garelick depots? Soon ?
Dean Foods does not own the land that the Garelick Franklin plant resides. They lease it from the Bernon Land Trust. The Bernon’s own the land.
How about haverhill depot. With the drivers from lynn.
No cleaning house just yet. Have to keep current management, name a manager as the overall head of each of the 3 facilities while this plays out, and have to maintain current staffing levels.
Sounds like the DOJ is trying to avoid the Golden Guernsey disaster in Wisconsin that happened a few years ago by requiring the buyer be familiar with the industry. What happened then was Dean Foods was ordered to divest of a plant they had just acquired. DOJ approved sale to a private equity firm that Dean Foods knew had no chance to be successful. Private equity firm ran plant for a year and then closed the plant with no notice. So restriction makes sense but may result in no bidders.
After reading the 36 pages associated with franklin and the other two plants, if the plants cant be sold in 30 days there could be an extention. If after the 30 days a trustee will have to be hired. If not sold in 30 days it can be extended up to 4 months ( 60 days and another 60 days) reports will need to be handed into the justice department. After a period of 6 months, the sale of the 3 plants or what ever is left that did not sell, is voided and dfa keeps the left overs with the state lawsuits going away. The volume the franklin plant puts out is massive. My opinion, its a back door deal. I dont know how they will keep it but i think itll stay in the family. In the docket info it must be a company that knows how to run the business. Hood wont get it. Imo, I also think much of the current management disappears. The plant is run by a bunch of id–ts that have no clue. I think we can all agree on that. Dfa needs to clean house. Supervisors walking around together, holding hands. We all know what we are doing no need to have 2 and 3 supervisors walking in saying move faster. Stop sitting on your behinds and get to work. Save our plant.
Management says believe in “BIG BUCKS ALAN” i just dnt know where this info of 30days no buyer DFA keeps franklin
They'll find a buyer. DOJ sale totally different from bankruptcy sale. In bankruptcy sale went to highest bidder. DOJ sale will go to someone who the DOJ believes will be best to operate the business as a competitor to DFA- might not be the highest bidder. Also might not be someone who really has the capability to compete, but a lot of this is politics- so DOJ can say they did something.
If I was DFA I would keep Franklin and close Renselear and have Burlington and Franklin take the volume. Most everything headed to the city or Price Chopper anyway. Poor distribution and poor plant management anyway.
The doj said sell by 30 days
So a shut down of franklin is coming no matter what? Is what your saying. Anytimeline
Hood gets it if they want it but it could go to a developer if the real estate is valuable. See Miami as an example where a developer outbid a strategic distributor by $1.5 million and got it. Even with Franklin gone, there’s less market concentration by DFA.
yes Hood. Was oakhurst, guida wich are both dfa i think so what do you think happens with franklin
Who’s the competition to Franklin, MA? HP Hood?
Apartment buildings.??? No i cant see that what about all the employees
Rumor on the street is WOOD partners LLC is chomping at the bits to get that land.
Soooo whats franklin ma future hold. Closure
???? Strip down or business as usual alot of management went to dfa
Bernon still owns the property
Ask Keith Murphy
I doubt it as he his CEO for the newly acquired Deans business for DFA