Harry Davis & Company completes sale of HP Hood’s dairy facility to Maola Local Dairies
In a significant move for the dairy industry, Harry Davis & Company (HDC) has announced the successful brokered transaction between Maola Local Dairies and HP Hood for the acquisition of HP Hood’s extended shelf-life UHT dairy processing factory located in Philadelphia, Pennsylvania. This strategic acquisition is poised to maintain over 160 local union jobs in the state, reinforcing the dairy industry’s commitment to supporting local employment and production.
Maola Local Dairies, a subsidiary of Maryland & Virginia Milk Cooperative Association, Inc. (MDVA), gains a valuable asset in the Philadelphia facility, known for producing high-quality coffee cream, half & half, and other extended shelf-life dairy products. The plant’s acquisition is not only a testament to Maola’s growth strategy but also strengthens its ties to Pennsylvania, where 80% of its family-owned farms are based.
Lenny Davis, CEO of Harry Davis & Company, shared insights into the transaction’s significance, emphasizing the facility’s continuous operation and its critical role in meeting Maola’s dairy processing needs. “The Philadelphia dairy products facility…provides an immediate on ramp to Maola and their dairy processing needs,” Davis explained, highlighting HDC’s pivotal role in bridging the gap between buyers and sellers in the dairy industry across generations.
MDVA CEO Jay Bryant expressed enthusiasm about the acquisition, noting the opportunities it creates for product diversification and expanding Maola Milk’s consumer reach. Similarly, Aaron Morgenstern, president of Harry Davis and Company, reflected on the positive impact of retaining local dairy processing capabilities. “It’s always exciting to bring together two great companies with similar visions and retain local dairy processing in any region,” Morgenstern commented, praising the high level of coordination required to ensure a seamless transition for all parties involved.
The transaction brokered by Harry Davis & Company marks a critical juncture for the dairy industry in Pennsylvania, highlighting the importance of strategic acquisitions in maintaining local jobs and supporting regional agricultural economies. By securing the future of HP Hood’s dairy processing facility under Maola Local Dairies’ management, this deal not only preserves a significant number of union jobs but also ensures the continued production of dairy products critical to the local market. The success of this acquisition demonstrates the vital role of experienced intermediaries like HDC in facilitating complex transactions that benefit both the industry and local communities.