US - Financial investor White Oak Global Advisors from San Francisco is the new owner of Northern Beef Packers.
The meat processing plant in Aberdeen, South Dakota, that filed for bankruptcy last July was officially sold to the new owners this week.
White Oak Global Advisors was an investor in the original Northern Beef operation and has now has purchased the plant through a new limited liability corporation, New Angus.
The company says the purchase removes the Northern Beef facility from Chapter 11 bankruptcy proceedings and allows the company to move forward in operation the plant.
“White Oak is currently evaluating its strategic options and remains confident in the Facility’s future as an operating plant,” the new owners said.
“The Facility has the potential to be a success for both the community and its stakeholders.
“White Oak views the purchase as an investment in both South Dakota and its surrounding communities.”
TheMeatSite News Desk