Sager Creek Nabs Defunct Allens With $160M Bid

Law360, New York (February 7, 2014, 4:24 PM EST) -- Bankrupt Allens Inc. has been scooped up by Sager Creek Acquisition Corp., which won the bidding for the Arkansas-based frozen vegetable manufacturer with an offer of nearly $160 million, according to court documents.

The agreement — which Allens announced Friday — puts to bed a bankruptcy bidding process that began when the company filed for Chapter 11 in October 2013. According to Allens' Friday press release, Sagar Creek is owned by "investment funds managed or advised by Sankaty Advisors LLC and GB Credit Partners LLC." Allens...
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