Louisiana Pellets announces $35.4 million high bid for company assets

By Caroline Salls

Pittsburgh, March 31 – Louisiana Pellets, Inc. selected LaSalle BioEnergy, LLC as the winning bidder for its assets, according to a notice filed Friday with the U.S. Bankruptcy Court for the Western District of Louisiana.

LaSalle submitted a $35.4 million final bid for the assets.

KBG Acquisition, LLC is the back-up bidder, with a $16 million proposed purchase price.

The sale hearing is scheduled for April 4.

Based in Urania, La., Louisiana Pellets manufactures wood pellets. The company filed for bankruptcy on Feb. 18, 2016 under Chapter 11 case number 16-80162.

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