Sale of Assets - Allen Biotech, LLC
$37.5 million sale of business assets including a 44,000 square foot poultry rendering and processing facility located on an 88-acre parcel in Dorchester County on Maryland’s Eastern Shore.
Linowes and Blocher LLP negotiated an Asset Purchase Agreement and related business agreements incident to the sale of assets of Allen Biotech, LLC, a subsidiary of Harim USA LTD, to Valley Proteins, an integrated animal byproduct rendering and recycling company. The Firm’s Business Transactions Practice Group, with the assistance of the Environmental Practice Group, assisted the client in the satisfaction of the purchaser’s due diligence requests; obtained approvals from the Maryland Transit Administration for the assignment of the existing access licenses to the facility, arranged for the transfer of certain environmental and business permits; obtained other third party consents to the sale; and advised the client on environmental, contractual and other business-related issues in connection with the transaction. We assisted in the negotiation of a By-Products Supply Agreement between an affiliate of the seller, Allen Harim Foods, Inc., and the purchaser to sell poultry by-products to the plant. The Firm has also assisted the purchaser in obtaining a permanent access easement from the State of Maryland to the site.