**SOLD**: Extended Shelf Life UHT Dairy Facility

M/A Opportunity - Continued Operations & Real Estate

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Harry Davis & Company Announces MDVA’s Acquisition of HP Hood’s Philadelphia UHT Dairy Facility

Pittsburgh, PA – Harry Davis & Company (HDC) announced today the completion of its brokered transaction between Maola Local Dairies and HP Hood for the sale of HP Hood’s extended shelf-life UHT dairy processing factory located in Philadelphia, PA. The acquisition will keep more than 160 local union jobs in Pennsylvania, where 80% of Maola’s family-owned farms are located. The Philadelphia facility produces coffee cream, half & half and other extended shelf life dairy products. Maola is a subsidiary of Maryland & Virginia Milk Cooperative Association, Inc.

Speaking with HDC’s CEO Lenny Davis, he explained that “the Philadelphia dairy products facility has been and will continue to be in continuous operation which provides an immediate on ramp to Maola and their dairy processing needs. Our market research and appraisal of the operation encouraged us that a new operator would be identified. For three generations, we have been positioned at the crossroads of buyers and sellers in the dairy industry and we are proud of our role with this transaction.”

“We are thrilled to add this Philadelphia-based plant to our portfolio as it provides us with new opportunities to diversify our products and reach more consumers with Maola Milk,” MDVA CEO Jay Bryant said.

“It’s always exciting to bring together two great companies with similar visions and retain local dairy processing in any region. Regional co-ops can expand to greater capabilities and established facilities can continue providing for local communities,” remarked Aaron Morgenstern, president of Harry Davis and Company. “This project involved a high level of coordination between the parties to ensure a seamless transition and a mutually beneficial solution for all parties.”

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