MINNEAPOLIS – Cargill has been granted the winning bid to acquire two animal feed mills from Pennfield Corp. for $9.8 million in a bankruptcy proceeding.
The acquisition will be finalized on Jan. 21, with Cargill acquiring Pennfield’s animal feed mills and associated assets in Mount Joy and Martinsburg, Pa.
“We are thrilled to add Pennfield’s facilities and knowledgeable employees to the Cargill family,” said Rob Sheffer, group director for Cargill’s Northeast region. “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.”
Lancaster, Pa.-based Pennfield filed Chapter 11 Bankruptcy petitions in the US Bankruptcy court for the Eastern District of Pennsylvania in October 2012. Cargill filed its preliminary bid for the facilities with the court on Dec. 28.