PORTLAND, Ore. (KOIN) — The bankrupt farmers’ cooperative NORPAC appears to have struck a $49 million deal to sell its Oregon facilities.
The notice of intent to sell was filed December 19. NORPAC wants to sell the Brooks, Stayton and Salem facilities to the Michigan-based cold storage company Lineage Logistics.
This comes a couple weeks after Oregon Potato Company submitted the winning bid for NORPAC’s Quincy, Washington plant. A major part of the discussion surrounding that sale involved Lineage’s professed interest in the Oregon facilities. More than 1,000 people lost their jobs when those operations shut down.
NORPAC attorney Albert Kennedy said Lineage Logistics intended to buy the Oregon plants, and then lease the Brooks and Salem plants to Oregon Potato Company. During the December 11 hearing, the judge asked whether that would mean the reemployment of some of the people who had been let go. A lawyer for Oregon Potato Company answered that it would.
The judge approved the sale of the Quincy plant and assets for a sale price of up to $107 million.
A judge is set to hear the motion regarding the sale of the Oregon facilities on January 14, 2020 in downtown Portland.