Did borden go out of business?

In 1857, Gail Borden, Jr. applied for a patent for his process of condensing milk. He started the New York Condensed Milk Company in 1858, which was the first company to commercially produce condensed milk. condensed milk became a staple for the Union army during the Civil War. Borden's company prospered, and in 1867, Borden merged his company with the New York Dairy Company to form the New York Condensed Milk Company. Borden's company continued to grow, and in 1892, the company was renamed the Borden Condensed Milk Company. Borden became one of the largest producers of condensed milk in the world. Borden's condensed milk was so popular that other companies began to produce their own condensed milk. This increased competition, and condensed milk prices began to decline. In order to stay competitive, Borden began to cut corners, and the quality of their condensed milk suffered. As the quality of Borden's condensed milk declined, sales began to suffer. In an effort to increase sales, Borden began to sell other products, such as ice cream and cheese. However, these other products were not as successful as condensed milk, and Borden's financial problems continued to grow. In addition to competition and declining sales, Borden faced other problems. In the early 1900s, several of Borden's factories were destroyed by fire. These fires were a major setback for the company, and Borden was never able to fully recover. The final nail in the coffin for Borden came in the form of a strike. In 1930, Borden's workers went on strike, demanding higher wages and better working conditions. The strike lasted for nearly a year, and Borden was forced to close several of its factories. The strike was a major financial blow to the company, and it never fully recovered. Borden continued to struggle financially in the years that followed. In 1945, Borden was forced to sell its condensed milk business to the National Dairy Products Corporation. This was a major blow to the company, and it struggled to find its place in the post-war economy. Borden continued to struggle in the years that followed, and in 1971, the company filed for bankruptcy. Borden was no longer the major player in the condensed milk market, and it was unable to compete with the larger, more modern companies that had taken its place. Borden was bought out of bankruptcy by the French company Groupe Danone in 1972. Groupe Danone then proceeded to sell off Borden's assets, and the Borden name was no longer associated with condensed milk. Today, Borden is best known as the maker of Elmer's Glue. While Borden no longer produces condensed milk, its legacy as one of the first companies to commercially produce condensed milk is still remembered.