SOUTH CHARLESTON, Ohio (AP) -- A western Ohio dairy farm with about 1,100 cows has been sold for nearly $4.9 million after being forced by debt into receivership.
The 68-acre Eastwood Dairy LLC near South Charleston in Clark County was sold Tuesday to Miami Valley Dairy LLC.
Miami Valley Dairy is a newly formed company. Part owner Ted Van Raay is also the owner of another nearby dairy. He tells the Springfield News-Sun (http://bit.ly/HrwXL4) the current 10 employees will most likely keep their jobs.
Eastwood was founded in 2005, and a court-appointed receiver says its former owner has moved to the Netherlands. Court documents show it owes about $6.8 million to at least 20 creditors.
The farm is among several developed by Vreba Hoff Dairy Development starting in the 1990s.
Information from: Springfield News-Sun, http://www.springfieldnewssun.com
Copyright 2012 The AP.