Both agreements will include long-term licensing arrangements for the use of the Land O'Lakes brand name.
Under the joint-venture agreement, Land O'Lakes and Dean Foods will each hold a 50 percent interest in an independent entity having the U.S. rights to develop, market and license Land O'Lakes brand cream, half and half, sour cream and extended shelf life products, including the successful GRIP'N GO single-serve milk. The joint venture will bring to market functional-food dairy products in convenient packaging designed for "on-the-go" lifestyles.