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Townsends gets OK to sell assets for $76.38 million combined high bid
By Lisa Kerner
Charlotte, N.C., Feb. 17 - Townsends, Inc. will sell its assets for $76.38 million to combined high bidders Peco Foods, Inc. and Omtron Ltd. after the bid was approved by the U.S. Bankruptcy Court for the District of Delaware at a sale hearing on Thursday, according to an attorney familiar with the case.
As previously reported, Peco's portion of the purchase price will be $51.44 million, and Omtron's portion will be $24.94 million.
Townsends, a Georgetown, Del.-based poultry processor, filed for bankruptcy on Dec. 19. Its Chapter 11 case number is 10-14092.
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