Dean Foods Successfully Increases Availability Under Its Revolving Credit Facility

Dean Foods Company (DF) announced it has successfully increased the Company's borrowing base availability to $265 million under its senior secured revolving credit facility by completing post-closing appraisal work.

Chief Executive Officer Ralph Scozzafava said, "During the first quarter, we stated that we expected to expand our revolving credit facility to $265 million by the end of the second quarter and today marks the achievement of that goal.  This increases our financial flexibility and further enhances our liquidity. In addition, our existing $450 million accounts receivable securitization facility provides us with another source of flexible, low-cost access to capital. Together, these facilities give us confidence that we currently have ample resources to execute our enterprise-wide cost productivity plan and accelerate our business transformation."

Additional details can be found in the Form 8-K that the Company has filed with the U.S. Securities and Exchange Commission.

Dean Foods is a leading food and beverage company and the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the United States. Headquartered in Dallas, Texas, the Dean Foods portfolio includes DairyPure®, the country's first and largest fresh, national white milk brand, and TruMoo®, the leading national flavored milk brand, along with well-known regional dairy brands such as Alta Dena®, Berkeley Farms®, Country Fresh®, Dean's®, Friendly's®, Garelick Farms®, LAND O LAKES®* milk and cultured products, Lehigh Valley Dairy Farms®, Mayfield®, McArthur®, Meadow Gold®, Oak Farms®, PET®**, T.G. Lee®, Tuscan® and more. Dean Foods also has a joint venture with Organic Valley®, distributing fresh organic products to local retailers. In all, Dean Foods has more than 50 national, regional and local dairy brands as well as private labels. Dean Foods also makes and distributes ice cream, cultured products, juices, teas, and bottled water. Approximately 15,000 employees across the country work every day to make Dean Foods the most admired and trusted provider of wholesome, great-tasting dairy products at every occasion. For more information about Dean Foods and its brands, visit www.deanfoods.com.

*The LAND O LAKES brand is owned by Land O'Lakes, Inc. and is used by license.

**PET is a trademark of Eagle Family Foods Group LLC, under license.