Sam Kane Beef sold to North Carolina real estate developer
JDH Capital Co. has acquired the assets of Sam Kane Beef Processors Ltd., which had recently filed for bankruptcy. JDH, a real estate developer located in Charlotte, N.C., successfully acquired the company in a court-approved auction, according to the Fort Worth Star-Telegram. It was one of eight bidders.
The company said in a statement that it will make "meaningful investments in the processing plant and will continue to operate the business as a going concern.”
Sam Kane Beef has had numerous legal and financial problems in recent years. Last month, the company has to temporarily shut down operations after it was found to be dumping waste products in the city’s wastewater supply without approval.
Source: Fort Worth Star-Telegram