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AgFeed operations picked up by three pork producers
Story Date: 9/2/2013
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Source: Lisa M. Keefe, MEATINGPLACE, 8/30/13
Bankrupt pork producer AgFeed USA will sell its operations to three of its competitors in a $79.2 million deal that the bankruptcy court judge signed off on Thursday.
Hendersonville, Tenn.-based AgFeed USA, a unit of China-based AgFeed Industries Inc., filed Chapter 11 bankruptcy in the Delaware courts just last month. It already had in hand a deal to sell to The Maschoffs LLC for $79 million in cash, but only if no other party came forward offering more.
AgFeed instead will sell to High Plains Pork LLC, Cohoma Pork LLC and Murphy-Brown LLC.
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