The court approved Borden Dairy’s sale of substantially all assets to New Dairy OpCo, LLC, ending the operating-company sale process that ran through a June 4-13 auction. The sale order authorizes a free-and-clear transfer, assumption and assignment of selected contracts and leases, and purchase consideration built around a credit bid, TLB lender contribution, assumed liabilities, letter-of-credit treatment, and satisfaction or waiver of certain adequate-protection and superpriority claims.

The ownership transition was also reported by CSP Daily News, which flagged the post-sale ownership change for the dairy business. The practical read-through is that Borden’s Chapter 11 moved from value-preserving sale execution into post-closing wind-down and financing mechanics: the order references a post-sale DIP facility from KKR Loan Administrative Services LLC to fund interest, fees, expenses, and wind-down costs, subject to final approval.