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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 2, 1999 (June 22, 1999)
Suiza Foods Corporation
(Exact name of registrant as specified in its charter)
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Delaware 340-28130 75-2559681
(State or other Jurisdiction of (Commission File Number) (IRS Employer Identification No.)
Incorporation)
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2515 McKinney Avenue, Suite 1200
Dallas, Texas 75201
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:
(214) 303-3400
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ITEM 5. OTHER EVENTS.
On June 22, 1999, Suiza Foods Corporation, a Delaware corporation,
issued a press release announcing that Suiza had completed its previously
announced acquisition of Broughton Foods Company, an Ohio corporation, following
approval by Broughton's shareholders at a special meeting held on June 10, 1999.
The Press Release announcing the agreement is filed herewith as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99.1 Press Release dated June 22, 1999, relating to the
closing of the Broughton acquisition.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: July 2, 1999 SUIZA FOODS CORPORATION
By: /S/ LISA N. TYSON
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Lisa N. Tyson
Vice President
and Assistant General Counsel
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INDEX TO EXHIBITS
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Exhibit
Number Description
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99.1 Press Release dated June 22, 1999 relating to the closing of
the Broughton acquisition.
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EXHIBIT 99.1
JUNE 22, 1999
SUIZA FOODS COMPLETES ACQUISITION OF BROUGHTON FOODS COMPANY
DALLAS--(BUSINESS WIRE)--June 22, 1999--Suiza Foods Corporation (NYSE:SZA -
news) today reported that it has completed its previously announced acquisition
of Broughton Foods Company (Nasdaq:MILK - news) following approval by
Broughton's shareholders at a special meeting held on June 10, 1999.
Broughton Foods Company, which had net sales of approximately $179 million in
1998, is a leading manufacturer and distributor of fresh and ultra high
temperature ("UHT") milk, ice cream and other UHT dairy products in Michigan,
Ohio, West Virginia, Kentucky, Tennessee and parts of the eastern U.S.
Pursuant to an agreement with the U.S. Department of Justice Antitrust Division,
Suiza must sell Broughton's Southern Belle Dairy based in Pulaski County,
Kentucky, by the end of October 1999.
Suiza Foods is a leading manufacturer and distributor of dairy products and a
leading manufacturer of rigid plastic packaging in the United States.
Certain statements and information in this press release constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be indicated by
phrases such as "believes," "anticipates," "expects," "intends," "foresees,"
"projects," "forecasts," or words of similar meaning or import. Such statements
are subject to certain risks, uncertainties, or assumptions. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those set forth in the
applicable forward-looking statement. Among the key factors that may have a
direct bearing on Suiza results and financial condition are (i) risks associated
with Suiza's acquisition strategy, including its ability to integrate the
operations of its acquired businesses and realize operating efficiencies; (ii)
risks relating to Suiza's leverage position; (iii) risks associated with intense
competition in Suiza's industries; (iv) the impact of government regulations
affecting the dairy industry; and (v) fluctuations in the pricing of raw milk,
butterfat, and other components used in Suiza's businesses. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those set forth in the
applicable forward-looking statement. Any forward-looking statements made or
incorporated by reference herein speak only as of the date of this press
release. Suiza expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect any change
in its expectations with regard thereto or any changes in events, conditions, or
circumstances on which any such statement is based.
Contact:
Suiza Foods Corporation, Dallas
J. Michael Lewis, 214/303-3437
