Dean Foods Completes Spin-Off of TreeHouse Foods, Inc.
June 27 2005 - 7:00PM
PR Newswire (US)
Dean Foods Completes Spin-Off of TreeHouse Foods, Inc. DALLAS, June
27 /PRNewswire-FirstCall/ -- Dean Foods Company (NYSE:DF) today
completed the spin-off of its majority-owned subsidiary TreeHouse
Foods, Inc. as an independent, publicly traded company. Immediately
prior to the spin-off, Dean Foods transferred to TreeHouse the
business currently conducted by its Specialty Foods Group segment
in addition to its Mocha Mix(R), Second Nature(R) and foodservice
salad dressings businesses. The spin-off was effective as of 5:00
p.m., New York City time, on June 27, 2005. Under the terms of the
transaction, Dean Foods distributed to the holders of Dean Foods
common stock one share of TreeHouse common stock for every five
shares of Dean Foods common stock outstanding on June 20, 2005, the
record date for the distribution. An information statement
describing the new company, the procedures by which the
distribution was effected and the risks of holding TreeHouse common
stock was mailed to Dean Foods stockholders on or about June 20,
2005. A copy of the information statement is included with the
registration statement on Form 10, as amended, filed by TreeHouse
with the Securities and Exchange Commission in connection with the
transaction and available at the Commission's website at
http://www.sec.gov/ . Holders of Dean Foods common stock on the
record date will receive an account statement showing their
ownership in TreeHouse, which initially will be in book-entry form.
The account statement will include information about how to request
a physical stock certificate. Stockholders who hold their shares
through brokers or other nominees will have their shares of
TreeHouse common stock credited to their accounts by their nominees
or brokers. "Regular way" trading for Dean Foods common stock,
without the right to receive TreeHouse shares in the distribution,
will begin on June 28, 2005 on the New York Stock Exchange under
the symbol "DF." "Regular way" trading for TreeHouse also will
begin on June 28, 2005 on the New York Stock Exchange under the
symbol "THS." After the spin-off, the tax basis of outstanding Dean
Foods shares will be allocated between the Dean Foods shares and
the TreeHouse shares received in proportion to their relative fair
market values. Dean Foods will provide shareholders who are U.S.
taxpayers with information to enable them to compute their tax
basis in their Dean Foods and TreeHouse shares, and with other
information necessary to report their receipt of TreeHouse common
stock on their 2005 federal income tax returns as tax-free.
Stockholders with inquiries should contact: Dean Foods Company 2515
McKinney Avenue, Suite 1200 Dallas, TX 75201 Attention: Investor
Relations (214) 303-3400 Contact: Barry Sievert Senior Director,
Investor Relations (214) 303-3437 DATASOURCE: Dean Foods Company
CONTACT: Barry Sievert, Senior Director, Investor Relations of Dean
Foods Company, +1-214-303-3437 Web site: http://www.deanfoods.com/
http://www.sec.gov/
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