WINNETKA, IL — The price paid by a Winnetka private equity company for a bankrupt dairy and its chain of ice cream shops was revealed Wednesday during a hearing in federal bankruptcy court.

Oberweis Dairy Inc., which was sold at a bankruptcy auction last week to a private equity firm with ties to St. Louis, went for $21.25 million, according to court documents. And the buyer says it ...

One of America’s oldest and most recognized dairy producers, Borden Dairy, announced it is filing for bankruptcy, making it the second dairy dynasty to do so in as many months as consumption of milk ...