Dairy Deal: Crystal Cream & Butter Sold To HP Hood

The 106-year-old company was sold for undisclosed sum; 500 employees will be affected, according to media report.

SACRAMENTO, Calif.-Crystal Cream & Butter Co., a Sacramento institution for more than a century, has been sold, according to a report in Thursday’s The Sacramento Bee.
The 106-year-old company was purchased by HP Hood LLP for an undisclosed sum. Hood is a national dairy company that has about $2.3 billion in annual sales. It is privately held and is controlled by the family of its chief executive, John Kaneb, the newspaper said.
Crystal Cream & Butter has annual sales of about $180 million and also is privately owned.

Hood spokeswoman Lynne Bohan confirmed the sale but gave no other information about it. Officials at Crystal Cream & Butter would not discuss the matter. It was unclear what would happen to the company's 500 workers, the paper reported.
Crystal Cream & Butter put its former downtown Sacramento manufacturing site up for sale last year. The company moved its operations to Power Inn Road about a decade ago.
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