Cargill Acquires Pennfield Animal Feed Mills, After Company Filed for Bankruptcy
By Amanda Brodhagen, Farms.com
Cargill announced that it has won the bid to acquire two animal feed mills from Pennfield Corp. for $9.8M.
The asset purchase was through a bankruptcy proceeding, when Pennfield filed for bankruptcy petitions in a US court on Oct. 2012. Cargill’s intentions to acquire the two animal feed mills were filed with the bankruptcy court in Dec. 212.
“We are thrilled to add Pennfield’s state-of-the-art facilities and knowledgeable employees to the Cargill family,” said Rob Sheffer, Group Director, for Cargill’s Northeast region.
The animal feed mills are located in Mount Joy and Martinsburg, Pennsylvania.
“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,” said Sheffer.