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.