Nebraska's PPP meat plant sells for US$700,000

The group that plans to turn a former Premium Protein Products (PPP) plant in Hastings, Nebraska, into a kosher slaughter plant has now agreed to buy PPP's further processing plant in Lincoln, Nebraska, for just $700,000.

Hastings Acquisitions, the joint venture of the Puretz family, an Orthodox Jewish family from New York and Chicago-based food wholesaler Lincoln Provision, bought the Hastings plant for US$3.2 million earlier this month.

Bankruptcy documents showed PPP had valued the Hastings plant at US$4.7 million and the Lincoln plant at just over US$4 million. Equipment at both plants combined was valued at US$3.8 million.