PE-Owned Dairy Co. Fetches $7.4M at Ch. 7 Auction

Law360, Wilmington (June 10, 2013, 11:18 PM EDT) -- A Delaware bankruptcy judge on Monday approved the sale nearly $7.4 million sale of private-equity owned Golden Guernsey Dairy LLC, happily endorsing the results of a Chapter 7 auction that boosted the price for the Wisconsin-based milk processor by nearly $2 million.

Owned by Los Angeles-based private equity firm OpenGate Capital LLC, Golden Guernsey entered Chapter 7 in January and has since been administered by Chapter 7 trustee Charles A. Stanziale Jr., who conducted the auction that produced winning bidder Lifeway Foods Inc.

U.S. Bankruptcy Judge...
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