Company Overview of Agri-Fine, Inc.
Agri-Fine, Inc. produces and markets vegetable oil for livestock feed, chemical, and bio-diesel industries in the United States and internationally. The company focuses on producing acidulated soapstock, which is an oil-water emulsion that arises during the centrifuge stage of the refining process. It offers AFC Trio blend that combines the nutritional benefits of canola, soy, and corn packed into one custom-formulated blend to meet the feed ingredient energy needs; AFC AV blend, a formulated blend of AFC Trio vegetable oil and animal fats that maximizes nutritional value; and AFC Interphase, a liquid energy source that maximizes the growth potential for the animals. The company also provide...
2701 East 100th Street
Chicago, IL 60617
Founded in 1984
Key Executives for Agri-Fine, Inc.
Agri-Fine, Inc. does not have any Key Executives recorded.
Agri-Fine, Inc. Key Developments
Motion for Asset Sale Approved for Agri-Fine, Inc.
Mar 17 16
The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Agri-Fine, Inc. on March 17, 2016. The debtor has been authorized to sell substantially all its assets to A-F Acquisition, LLC, the stalking horse bidder for a purchase price of $6.3 million. The debtor did not receive any other competing bids for the purchase of its assets and therefore Agri-Fine, Inc. emerged as the winning bidder.
Motion for Asset Sale Filed by Agri-Fine, Inc.
Feb 5 16
Agri-Fine, Inc. filed a motion in the US Bankruptcy Court seeking approval for the sale of substantially all its assets on February 5, 2016. As per the motion, debtor seeks to sell substantially all its assets to A-F Acquisition, LLC for $6.3 million, as per the agreement dated December 31, 2015. Buyer has paid $1 million as escrow deposit upon execution of the agreement. Under the proposed bidding procedures, any competing bid must be for cash consideration of at least $7 million. After the initial overbid, all further overbids must be in increments of $0.03 million. The buyer will be entitled to break-up fee of $0.30 million as bid protection. Bid deadline is fixed for February 18, 2016. Auction will be held on February 25, 2016. Bidding procedures order is expected by January 12, 2016 and sale order by March 2, 2016. Collins & Collins acted as legal counsel for the buyer.
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