On Aug. 19, 1856, Mr. Borden received a patent for his process of condensing milk and soon began opening milk factories. After some initial financial difficulties, Mr. Borden founded the New York Condensed Milk Company with his partner, Jeremiah Milbank, and opened the first successful plant in Wassaic, NY in 1861. Borden was the first company to develop a patent for the process of condensing milk, as well as the first company to use glass milk bottles.
By the early 1990s, however, Borden Inc. began experiencing financial distress, resulting in a number of its business units being divested. In 1995, Borden Inc. was sold to Kohlberg Kravis Roberts & Co. (“KKR”) for $2 billion, and became a private company. Over the next decade, Borden Inc. underwent a series of reorganizations, which ultimately resulted in KKR selling off many of the divisions and brands of Borden Inc. to various buyers.
In 2009, Grupo Lala of Mexico purchased the dairy business, National Dairy LLC, and later established its U.S. operations under the name Borden Dairy Company.
Borden Dairy subsequently was spun off in 2013 into the privately held Grupo Lala-owned Laguna Dairy, S.A. de C.V. On January 5, 2020, Borden Dairy Company and sixteen affiliated companies filed Chapter 11 bankruptcy in the United States District Court for the District of Delaware.
Borden Dairy Corporation
Popular Posts
-
While serving as the American consul in Zurich, Charles Page decided that Switzerland, with its abundant milk supply and easy access to the ...
-
Coffee was the most common beverage consumed in the United States until the 1960s, when soft drinks became America’s beverages of choice. ...
-
Henry D. Seymour and William Heston, along with two others, organized a small oatmeal milling company (The Quaker Mills Company) in the 1877...
-
Empire State Dairy Company was founded in 1869. By the early-20th century, the company’s headquarters was located at 502 Broadway in Brookly...
-
In the mid 1880s the United States of America was not a naval power. After the cessation of the Civil War, ships were allowed to rot as the...
-
Tupperware was founded in 1948 by Earl Tupper. It manufactures and distributes kitchen and home – preparation, storage and serving products;...
