Mountaire Farms discontinues purchase of Allen Family Foods
South Korea company steps in, bankruptcy auction to take place July 28
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.