Cold storage co. purchases NORPAC plants
The $49 million sale of NORPAC Foods’ Salem, Brooks and Stayton processing facilities to cold storage giant Lineage Logistics has been approved by U.S. Bankruptcy Court Judge Peter McKittrick.
The approval is contingent on agreements being reached concerning previous union contracts.
The Statesman Journal reports the sale marks the end of the nearly 100-year-old Willamette Valley agricultural processor.
Most of the intangible assets of NORPAC, including its intellectual property, trade names, inventory, contracts and trademarks, were sold as part of a $107 million sale of NORPAC’s Quincy, Washington, processing plant to Oregon Potato Company in December.
