Mountaire Farms discontinues purchase of Allen Family Foods

Mountaire Farms has withdrawn its efforts to purchase the assets of bankrupt Delaware poultry company Allen Family Foods.
Mountaire originally expressed plans to purchase the company after Allen filed for Chapter 11 bankruptcy in June. Mountaire would have acquired hatcheries, a feed mill, breeder operations, rendering operations and production assets.
On July 18, South Korea-based Harim Corp. indicated that it would bid for Allen as part of its own expansion efforts. Allen's official bankruptcy auction will be held on July 28 at U.S. Bankruptcy Court in Wilmington, Del.