Our News Room is now able to confirm, through unofficial sources, that it does appear the Dean Foods / Land O Lakes Plant in Thief River Falls will close later this year.
Although all official sources we contacted said they were not “at liberty to confirm or deny that report;” families of employees tell us workers in Thief River Falls were given the news this morning; that the local processing plant would close as early as September or October.
Plant Manager Dave Job is on medical leave and contacts locally were deferred to corporate sources who have not returned our calls or emails; with more to come on this developing story.
Dean Foods / Land O’Lakes employs some 110 workers in Thief River Falls, with a long history in the community.
Although today’s announcement to employees appears to come as a surprise locally it also comes in light of corporate plans to “right-size” the dairy processing network after a poor showing in First Quarter Financial Results earlier this month.
According to Market Watch; “The company posted a net loss of $265,000, or flat on a per-share basis, compared to the loss of $9.8 million, or 11 cents a share, for the same period a year ago.”
Those losses are said to reflect a consumer turn toward plant based products as well the loss of a contract with corporate giant; Walmart, which opened its own processing facility this year.