Glen Taylor, owner of the Minnesota Timberwolves of the NBA, has agreed to purchase the former PM Beef plant in Windom, Minn. The plant closed last December, leaving more than 260 employees out of work.
Taylor and partner Greg Strobel plan to spend $20 to $25 million to convert the plant to a state-of-the-art pork processing facility, reports the Minneapolis Star-Tribune. Strobel is a pork producer in Pemberton, Minn. He has previously said that the new business, to be named Prime Pork, will start after the plant is refurbished, which should take nine months.