The Golden Guernsey Dairy, LLC plant in Waukesha has an offer. A trustee has negotiated a purchase with stalking-horse bidder LEL Operating Co. of Ohio for $5.5 million. The purchase includes the plant’s equipment, inventory, and intellectual property. LEL also included a $500,000 down payment on the deal.
The trustee, Charles Stanziale Jr., believes LEL’s agreement terms are better than what could be raised in an auction of the plant. Still, bids for the sale of the company will be accepted through May 10, and an auction will be held four days later if more than one qualified bid is received.
The Golden Guernsey plant was closed suddenly in January by its parent company, OpenGate Capital, LLC of Los Angeles, leaving more than 100 employees without jobs.
