Honey Supplier Groeb Strikes Ch. 11 Deal With Peak Rock Unit

Law360, Wilmington (October 4, 2013, 4:03 PM EDT) -- Bankrupt and beleaguered honey supplier Groeb Farms Inc. announced a recapitalization and restructuring deal with a unit of private equity firm Peak Rock Capital LLC on Friday as the company hopes to get through its Chapter 11 reorganization in about 90 days.

Under the deal, Peak Rock unit Honey Financing Company LLC would extend Groeb a revolving post-petition credit facility of up to $27 million to be used to refinance senior secured loans, originally extended by Wells Fargo Bank NA, that the private equity affiliate bought...
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