Dean Foods Eyes Sale of Rachel’s Organic

The US owner of dairy products manufacturer Rachel’s Organic is believed to have put the company up for sale for £20m ($29m).

According to The Guardian newspaper, Dean Foods apparently asked investment bankers NM Rothschild to examine strategic options, including a trade sale.

In 2009, sales of Rachel’s products reached £28.6m ($41.9m), a year-on-year rise of 9.2%.

In 1999, US-based Horizon Organic Dairy acquired Rachel’s and was itself acquired by Dean Foods five years later.

Dean Foods aims to cut more than 500 jobs this year and $300m over three to five years under its restructuring plan.