PITTSBURGH--(BUSINESS WIRE)--Harry Davis & Company (HDC) announced today the completion of its brokered transaction between Maola Local Dairies and HP Hood for the sale of HP Hood’s extended shelf-life UHT dairy processing factory located in Philadelphia, PA. The acquisition will keep more than 160 local union jobs in Pennsylvania, where 80% of Maola’s family-owned farms are located. The Philadelphia facility produces coffee cream, half & half and other extended shelf life dairy products. Maola is a subsidiary of Maryland & Virginia Milk Cooperative Association, Inc.
Speaking with HDC’s CEO Lenny Davis, he explained that “the Philadelphia dairy products facility has been and will continue to be in continuous operation which provides an immediate on ramp to Maola and their dairy processing needs. Our market research and appraisal of the operation encouraged us that a new operator would be identified. For three generations, we have been positioned at the crossroads of buyers and sellers in the dairy industry and we are proud of our role with this transaction.”
“We are thrilled to add this Philadelphia-based plant to our portfolio as it provides us with new opportunities to diversify our products and reach more consumers with Maola Milk,” MDVA CEO Jay Bryant said.
“It’s always exciting to bring together two great companies with similar visions and retain local dairy processing in any region. Regional co-ops can expand to greater capabilities and established facilities can continue providing for local communities,” remarked Aaron Morgenstern, president of Harry Davis and Company. “This project involved a high level of coordination between the parties to ensure a seamless transition and a mutually beneficial solution for all parties.”
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About Harry Davis & Company
Based in Pittsburgh, Pennsylvania since 1955, Harry Davis & Company is a third-generation family business providing industry-leading asset valuations, business strategy, and facility sales consulting to dozens of industries including dairy, food and beverage, industrial manufacturing, and consumer personal care products. Harry Davis & Company are The Food & Beverage Market Makers, bringing buyers and sellers together to achieve maximum results. Visit www.HarryDavis.com for more information.
About Maryland & Virginia Milk Producers Cooperative Association
Maryland & Virginia Milk Producers Cooperative Association (MDVA) is a community of more than 900 dairy farm families in 10 states passionate about cultivating dairy goodness and bottling fresh Maola brand milk and dairy products. Our farmer-owned cooperative owns five dairy processing plants that process more than three billion pounds of milk annually. Our diverse portfolio of dairy products are then distributed to consumers in the United States and ingredients customers worldwide. Our cooperative is a leader in sustainability, partnering across the supply chain to deliver sustainable solutions to our member farms. For more information about MDVA, visit www.mdvamilk.com. For more information about Maola Milk, visit www.maolamilk.com.
