Maschhoffs to acquire U.S. assets of AgFeed

摘要

UNDER an agreement filed last week in the U.S. Bankruptcy Court for the District of Delaware, the fourth-largest hog company in the country will acquire the U.S. assets of pork producer AgFeed Industries. The Maschhoffs, a family-owned firm based in Carlyle, 111., signed an asset purchase agreement with AgFeed for the amount of $79 million, pending court approval. AgFeed's voluntary filing for Chapter 11 protection on July 15 comes on the heels of a string of setbacks for the firm, which produces pigs in the U.S. and China.