Source:  NCDA&CS, 2/22/11

U.S. Bankruptcy Court in Delaware on Feb. 17 gave final approval to poultry processor Townsends Inc. to sell its North Carolina assets to Omtron Ltd. Omtron agreed to buy Townsends’ North Carolina division, its headquarters in Delaware and other assets for $24.9 million and the assumption of certain liabilities. Omtron is an affiliate of Agroholding Avangard, Ukraine’s largest egg producer.
Staff with the International Marketing Section of the N.C. Department of Agriculture and Consumer Services worked with Omtron, state and local agencies to help facilitate the purchase.

Below is Agriculture Commissioner Steve Troxler’s statement about the transaction:

“While we hate to see the end of Townsends’ presence in North Carolina, we are glad to have worked with Omtron and others to ensure that an estimated 1,500 jobs stay in our state and support our rural economies. By purchasing these assets and diversifying its operations to enter broiler production, Omtron also gives hope to 250 poultry farmers who were under contract with Townsends.

“As the acquisition moves to the final phases, my staff and I stand ready to assist with the transition and help Omtron continue to thrive here in North Carolina.”

Background: Townsends, a third-generation, family-owned poultry processor, filed for bankruptcy protection under Chapter 11 in December. The Delaware-based company operated six facilities in North Carolina.