Illinois' JCG Foods Offers To Buy Bankrupt Chicken Processor Cagle's

A Chicago area company has made an offer that could approach $80 million to buy Cagle's, an Atlanta-based chicken processor that has been in bankruptcy since last fall.

The U.S. Department of Justice must approve the attempt by JCG Foods, affiliated with Koch Foods, to pay cash and take over Cagle's inventory and accounts.

Last October, Cagle's filed Chapter 11 bankruptcy, which allows it to continue operating while trying to get back on its feet or find a buyer.

Cagle's employs about 1,900 workers at facilities in Georgia and Alabama.  It is an integrated company, controlling its chickens from the hatchery to shrink-wrapped meat headed for grocery store shelves.

To read the rest of the story, please go to: Atlanta Journal-Constitution