Meat and Poultry Industry News / Chicken

Zacky Farms LLC to sell its assets to the Lillian Zacky Family Trust

Zacky Farms LLC announced that it conducted a Chapter 11 auction for substantially all of its assets and that The Robert D. Zacky and Lillian D. Zacky Family Trust was the successful bidder. As part of the transaction, the Trust will retain substantially all of the Zacky employees. The auction results were announced at a hearing of the Bankruptcy Court on January 18, 2013.

The sale is subject to approval by the Bankruptcy Court at a final hearing scheduled for 2:00p.m. on Monday, January 28, 2013. Terms of the DIP financing require the sale to close by January 31, 2013. Imperial Capital served as investment banker for the seller in the transaction.

Keith Cooper, chief restructuring officer of Zacky Farms said, “We are extremely pleased that the Zacky Trust was the successful bidder whereby the operations and jobs of Zacky Farms are preserved. Further, this result confirms the commitment of Lillian Zacky and Scott Zacky to the continued operation and turnaround of Zacky Farms.”

Cooper added, “I would like to personally thank all of the employees, customers, growers and vendors who have stood by Zacky Farms over the past 3½ months and have supported Zacky Farms during this challenging process. This is a great day for Zacky Farms and the Zacky family of employees because it is now possible for Sam and Bob Zacky's legacy to continue with the third and fourth generations of the Zacky Family dedicated to the future of this company.”

On October 8, 2012 Zacky Farms filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of California in Sacramento, California, and has continued to operate as debtor in possession.

Zacky Farms, headquartered in Fresno, California, is a vertically integrated poultry company that has been in operation for over 70 years.

Source: Zacky Farms LLC

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Podcasts

Brenneman analyzes Butterball’s new animal care, well-being program

Rod Brenneman, CEO of Butterball, discusses his company's new Animal Care and Well-Being Program, his company's certification by the American Humane Association and further animal-handling initiatives, all officially announced in September 2013.

More Podcasts

National Provisioner

0315np_cover.jpg

March 2015

The March 2015 issue of NP features: Ingredients: In search of the right spice; Packaging: Will solvent-based continuous printing expire?; and a new column, Get Real with Beef: Regionality brings out the best.
Table Of Contents Subscribe

Independent Processor

.

February 2015

The February issue of IP features cover story: The great speckled bird. 

Table Of Contents Subscribe

Provisioner Store

NP-SB-2014Cover.jpg
The National Provisioner Source Book

The Sourcebook is an exclusive buyer’s guide and reference tool for product and supplier information in the meat, poultry and seafood marketplace.

More Products

Sourcebook

A complete reference guide to supplies. Go to NP's Sourcebook now to check out the latest and greatest in the meat and poultry processing business.

STAY CONNECTED

Facebook icon Twitter icon  YouTube iconLinkedIn icon google +

eNewsletters

Provisioner Prime is a twice weekly electronic newsletter created by the editors of The National Provisioner. Provisioner Prime appears in your inbox every Tuesday and Thursday with a recap of the week's top news and trends. Provisioner Prime also offers you exclusive access to industry analysis, blogs, events, podcasts, videos, webinars and The National Provisioner feature articles. 

Sign up for Provisioner Prime HERE.