Minnesota company buys 2 South Dakota bankrupt dairies

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ABERDEEN, S.D. (AP) — A Minnesota company will take over two bankrupt dairies at Veblen in northeast South Dakota.

The American News reported that Riverview LLP will assume management immediately after a bankruptcy judge approved a purchase agreement late last week.

The two dairies, known as Veblen East and Veblen West, will be renamed Marshall Dairy. Riverview said they can produce nearly 28 million gallons of milk annually.

Riverview, based in Morris, Minn., oversees about 30,000 cows at other dairies in South Dakota, Minnesota and Nebraska.

According to court paperwork, Riverview agreed to buy the dairies from AgStar Financial Services, the prime financier of the dairies, and the group that would have likely owned the dairies had a buyer not been found.

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Veblen  |  February, 02, 2011 at 02:35 PM

Riverview stated they would be keeping all employees. That has turned out to be a lie!

Dairy girl    
South Dakota  |  February, 03, 2011 at 07:16 AM

Hmmm....I always believed in karma!

Virginia Koopmeiners    
Burtrum, MN  |  February, 04, 2011 at 03:00 PM

More power to the employees who are going through this turn-over, sorrow to the ones who will be cut. Bigger is not always better, and more dairy farmers MUST get together and decide something to stop this nationwide loss of private ownership, or there will only be a few farms owned and operated by processors and there our raw dairy products will follow that of hogs and poultry.....each having large corporate ownership. Save the family farm and save America!

Wisconsin  |  February, 06, 2011 at 01:09 PM

Why do banks allow businesses to get so far out financially. Everyone, and I mean everyone in the U.S., is hurt by this practice.

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