Dean Foods Company and some of its subsidiaries have entered into an asset purchase agreement with Dairy Farmers of America by which DFA will acquire a substantial portion of Dean Foods’ business operations. If the agreement is approved, DFA will acquire 44 of the Dean Foods’ fluid and frozen facilities and the real estate, inventory, equipment, and all other assets necessary to operate such facilities (aka the “Stalking Horse Assets”).

US Bankruptcy court gave the go ahead on the $58.4 million deal.

Hostess will compensate executives as it shuts down.

The beleaguered company is going through its second bankruptcy and has been sold three times in the past.