A bankruptcy judge in Cedar Rapids has approved the sale of the kosher meatpacking plant in Postville. Federal agents raided the Agriprocessors plant in May of 2008 and arrested nearly 400 workers. The plant eventually shut down and its top managers now face charges for hiring illegal immigrants and children as workers.
SHF Industries, a company formed by a Canadian businessman and his son-in-law, has purchased the plant for $8.5 million. The company is assuming Agriprocessor’s sizable debts too, around $21 million. Company assets in Postville as well as in Florida and New York are worth about $25 million. The Agriprocessors meatpacking plant in Gordon, Nebraska is to be sold separately.