Agspring says Greenfield winning bidder for Big River assets

By Sarah Lizee

Olympia, Wash., Oct. 27 – Agspring Mississippi Region LLC canceled a Thursday auction for its Big River assets and named stalking horse bidder Greenfield Grain, LLC the winning bidder, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The company said it didn’t receive any other qualitied bids by the deadline.

The assets include real property and storage facilities in the Mississippi Delta related to coarse grain, oilseed, and rice handling, as previously reported.

The purchase price under the stalking horse agreement is $30.5 million in cash plus the total fair market value of the assumed liabilities. Bid protections included an up to $610,000 expense reimbursement and an up to $1.07 million breakup fee.

A sale hearing will be held on Nov. 3.

Agspring Mississippi Region is an agriculture supply chain services company based in Leawood, Kan. The company filed bankruptcy on Sept. 10 under Chapter 11 case number 21-11238.

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