Under terms of the agreement, Cargill acquired Pennfield’s animal feed mills and associated assets located in Mount Joy and Martinsburg (US).
To facilitate the sale of its assets, Pennfield filed voluntary Chapter 11 Bankruptcy petitions in US Bankruptcy court for the Eastern District of Pennsylvania in October 2012.
Cargill’s preliminary bid was filed with the bankruptcy court on 28 December, 2012.
Rob Sheffer, group director, for Cargill’s Northeast region, said: “We are thrilled to add Pennfield’s state-of-the-art facilities and knowledgeable employees to the Cargill family.
“The deal not only expands our footprint in the region but it also provides us with additional capabilities and opportunities to serve new customer segments and enhance our offerings for existing customers in the region.”
Source: Cargill
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