Foster Farms buys part of Humboldt Creamery

<p>EUREKA — Foster Farms Dairy of Modesto is positioning itself to be a major player in the organic milk market by buying part of the bankrupt Humboldt Creamery.</p><p>Humboldt's CEO Len Mayer says Foster Farms, the biggest private dairy operation in California, has purchased the company's Fernbridge creamery for $20.5 million.</p><p>Foster Farms officials declined to comment Wednesday until the bid in U.S. Bankruptcy Court in Santa Rosa is final.</p><p>Members of the Humboldt cooperative were stunned last year when CEO Rich Ghilarducci abruptly resigned. Ghilarducci warned officials there were financial problems with the 80-year-old company that is the center of the Fernbridge economy.</p><p>An FBI investigation is ongoing.</p><p>___</p><p>Information from: Times-Standard, http://www.times-standard.com</p>