Le-Nature's receives $19 million competing bid for Latrobe plant

By Caroline Salls

Pittsburgh, Aug. 8 - Le-Nature's, Inc. has received a $19 million competing bid for its Latrobe, Pa., plant from Cadbury Schweppes Bottling Group, Inc., according to a Wednesday filing with the U.S. Bankruptcy Court for the Western District of Pennsylvania.

As previously reported, Giant Eagle, Inc. submitted an $18.9 million bid for the Latrobe facility in June, which was subsequently selected as the stalking horse bid.

However, the bid procedures in connection with Giant Eagle's stalking horse bid were withdrawn on July 16.

Cadbury Schweppes has paid a $2 million deposit.

The auction and sale hearing are scheduled for Thursday, and the sale is expected to close on Oct. 19.

Le-Nature's, a Latrobe, Pa., manufacturer of flavored bottled water and other beverages, had an involuntary Chapter 7 bankruptcy case filed against it on Nov. 1, 2006. The case was converted to Chapter 11 on Nov. 3, 2006. The case number is 06-25454.

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