Mountaire Farms has withdrawn its efforts to purchase the assets of bankrupt Delaware poultry company Allen Family Foods.
Mountaire originally expressed plans to purchase the company after Allen filed for Chapter 11 bankruptcy in June. Mountaire would have acquired hatcheries, a feed mill, breeder operations, rendering operations and production assets.
On July 18, South Korea-based Harim Corp. indicated that it would bid for Allen as part of its own expansion efforts. Allen's official bankruptcy auction will be held on July 28 at U.S. Bankruptcy Court in Wilmington, Del.
Company announces three significant actions in portfolio management
Jim Murray to be responsible for Minnesota, South Dakota territory
Company blames external events for decline
Shipments of US turkey to South Korea, China down dramatically
The company has partnered with Wild Oats to sell a new line of organic foods at 25 percent cheaper than other national brands
Thirteen growers and three friends of the industry earn awards from Delmarva Poultry Industry
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