Dean Foods Acquires Horizon Organic Holding Corporation

Dean Foods Company, Dallas, TX, and Horizon Organic Holding Corporation, Boulder, CO, have signed a definitive agreement by which Dean Foods will acquire the 87% equity interest in Horizon Organic it does not currently own. Dean Foods will purchase the remaining 87% interest in Horizon Organic for a cash price of approximately $216 million, or $24 per share, and will assume approximately $40 million in debt. The transaction, which was approved by the board of directors of both companies, is expected to close during the fourth quarter of 2003.