Harim USA Bids $48 Million for Allen Family Foods

Harim USA hopes to buy Allen Family Foods for $48 million, officials announced last night.

The South Korea-based company bid on Allen's assets during a bankruptcy auction July 25, and details are just being released now. The cost of Allen inventory will be added to the bid price, according to a release from Reed Smith, a Wilmington-based law firm representing Harim USA.

According to the law firm, the Honorable Kevin J. Carey, a New Castle County bankruptcy judge for the United States Bankruptcy Court, indicated at a hearing July 27 that he will approve the sale, possibly by mid-August.

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