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Economy
Borden Dairy, the 163-year-old milk producer known for its spokes-cow Elsie, files for bankruptcy after demand drops as people switch to VEGANISM and more say they are lactose intolerant
2020-01-07
[MAIL] A 163-year-old dairy which has its own 'spokescow' has filed for bankruptcy amid a surge in costs and a fall in sales because of the rise of veganism and people allergic to milk.

Borden Dairy Co blamed the 'rising cost of raw milk and market challenges facing the dairy industry'.

The amount of liquid milk consumed per capita in the US has tumbled more than 40 percent since 1975.

Americans drank around 24 gallons a year in 1996, according to government data but that dropped to 17 gallons in 2018.

About 65 percent of people cannot drink cow's milk without getting an upset stomach due to lactose intolerance and many more have dietary restrictions that keep them from the drink.

The Global Market Insights reported the plant milk market was worth over $8billion in 2016 and predicted it would be worth $21billion by 2024.

Posted by:Skidmark

#4  an older plant that failed to keep up with changing health regulations
Ironic in that Borden pretty much invented the concept of health and sanitation in the dairy business.
Posted by: Glenmore   2020-01-07 18:39  

#3  My father in law was a dairy farmer. Tough business al the way around. Gummint market distortion at its worst.
Posted by: M. Murcek   2020-01-07 16:14  

#2  I worked for the local Borden's plant for a time -- an older plant that failed to keep up with changing health regulations and eventually had to close. Bordens was one of those companies that got the "Diversification Bug" back in the 70's-80's and invested heavily into its Chemicals/Plastics subsidiary draining their dairy foods core of money. So like US Steel (USX) the core was left to wither away -- Veganism has bupkis to do with their decline.
Posted by: magpie   2020-01-07 16:09  

#1  Another bankruptcy?

Borden suffered significant losses for the period 1991-1993. A 1991 restructuring failed to integrate the company's brands and marketing efforts. When whole milk prices dropped in 1992, Borden Food did not lower its prices—causing a significant drop in market share from which it was not able to recover. Borden divested itself of nearly a third of its businesses in 1993 but could not find a buyer for its snack food concerns. In deep financial difficulty, Borden was bought out by Kohlberg Kravis Roberts (KKR) in 1995.[1] - wiki

One shell after another of a company holding the name.
Posted by: Procopius2k   2020-01-07 14:32  

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