AFA Foods Nets $57M In Sale Of Texas, Pa. Meat Plants

Law360, Wilmington (July 12, 2012, 11:24 PM EDT) -- AFA Foods Inc., the meat processor driven into bankruptcy by public backlash over "pink slime" beef filler, won court approval Thursday to sell processing plants in Texas and Pennsylvania to separate bidders for approximately $57 million.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the sale of AFA's Fort Worth, Texas, plant to Cargill Meat Solutions Corp. for about $38.1 million and its King of Prussia, Pa., plant to CTI Foods Holding Co. LLC for about $18.8 million. The deals include each plant's inventory and...
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