N.C. company buying N.M. peanut plant

  • Posted: Monday, March 24, 2014 11:46 a.m.

PORTALES, N.M. (AP) — A North Carolina company is buying an eastern New Mexico peanut-butter processing plant that went bankrupt after a salmonella outbreak shuttered its operations and prompted a nationwide recall last year.

According to the Portales News-Tribune (http://bit.ly/1lgCtXW), Severn, N.C.-headquartered Hampton Farms made the winning bid of $20 million in an auction Thursday for the Sunland Inc. plant.

The plant in Portales is now in U.S. Bankruptcy Court proceedings, and Sunland attorneys had valued the company’s total assets at $50 million when it sought bankruptcy protection last fall.

The company owes its three major secured creditors about $14 million.

Lawyers for Hampton Farms declined comment, and Sunland President Jimmie Shearer said he has not communicated with Hampton Farms about what it plans to do with the plant.

Notice about comments:

Salisburypost.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Salisburypost.com cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not Salisburypost.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Full terms and conditions can be read here.

Do not post the following:

  • Potentially libelous statements or damaging innuendo.
  • Obscene, explicit, or racist language.
  • Personal attacks, insults or threats.
  • The use of another person's real name to disguise your identity.
  • Comments unrelated to the story.