Kemps to Be Sold to Dairy Co-op
The parent company of Kemps, LLC, has agreed to sell the St. Paul-based ice cream, milk, and yogurt maker.
HP Hood, LLC-a Lynnfield, Massachusetts-based company that has owned Kemps since 2004-has entered into an agreement “whereby Dairy Farmers of America (DFA) would become the 100 percent equity owner of Kemps, LLC,” Kemps spokeswoman Rachel Kyllo told Twin Cities Business in an e-mailed statement.
Kyllo declined to provide further details or share the financial terms of the deal, which is subject to regulatory approval, other than to say: “We will be working through the transfer process over the upcoming weeks.”
DFA is a farmer-owned milk cooperative that's based in Kansas City, Missouri. According to its Web site, it has almost 16,000 members and more than 3,000 employees.
A DFA spokesperson wasn't immediately available for comment, but the company told the Rochester-Post Bulletin in an e-mailed statement: “From time to time, DFA's board of directors and management explore business relationships or acquisitions with organizations or brands that align. It is our policy not to disclose the details of these activities until a thorough due diligence process is complete, all regulatory requirements are met, and all involved parties have formalized a commitment to the project.”
Kemps has milk processingplants in Duluth and Minneapolis; an ice cream and milk facility inRochester; and a Farmington facility that makes yogurt, sour cream,and cottage cheese.
Founded in 1914, Kemps is a private company that manufactures and markets a variety of dairy products under brands that include Kemps, Hood, Hagan, Green's, and Arrowhead. The company employs 1,194-914 of whom work in Minnesota.