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Elsie moooves on: Borden dairy sold to private equity firms

Published Fri Jun 26 2020 21:33:00 GMT+0000 (Coordinated Universal Time)
Elsie the cow has a new home. Borden dairy, which filed for bankruptcy protection in January, has been sold to two private equity firms. Dallas-based Borden said Friday it was sold for about $340 million to Capitol Peak Partners and KKR. Colorado-based Capitol Peak will be the majority owner while New York-based KKR will be a minority investor. Borden’s 12 U.S. plants will remain open and its 3,300 workers will keep their jobs. There was no word on the fate of Elsie, the smiling cow that has been Borden’s mascot since 1936. The sale is expected to be wrapped up in mid-July.
by By DEE-ANN DURBIN
Elsie moooves on: Borden dairy sold to private equity firms
Elsie moooves on: Borden dairy sold to private equity firms