Foremost Farms USA sells Preston plant to Diversified Ingredients
Foremost Farms USA and Diversified Ingredients have announced that Foremost Farms plans to sell its Preston, Minnesota, manufacturing facility to Diversified Ingredients. The final closing on the sale will take place on or before Nov. 18, 2020. Foremost Farms dairy cooperative is Wisconsin’s largest cheese manufacturer. Headquartered in Ballwin, Missouri, Diversified Ingredients provides quality products and services to the food ingredient, pet food, and feed industries. The new entity will be called Preston Protein Products and will be a joint venture between Diversified Ingredients and Johnson Farms, Inc. Lime Springs, Iowa.
Built in 1924, the Preston plant offers milk separation, condensing and drying services for organic dairy fluid and ingredient marketers. Foremost Farms primarily focuses its whey products in the infant formula markets. The Preston plant is not set up to meet the demanding requirements of this customer base. Preston is best suited to serve smaller market segments (e.g., organic), as well as to manufacture specialized products that require smaller volumes. Foremost Farms is not well positioned to serve these markets.