Ohio Company Offers $5.5 Million for Golden Guernsey Dairy Plant

Mar 04, 2013

Offer to Buy Bankrupted Golden Guernsey Dairy on the Table

There is an offer of $5.5 million on the table to buy the Golden Guernsey Dairy plant in Waukesha, Wisconsin. The offer was made by a parent company of an Ohio dairy processor.

Court filings show that LEL Operating Co. has not only made an offer to buy the plant, but has also put down a $500,000 deposit. These findings were filed in the U.S. Bankruptcy Court in Delaware.

The plant has been closed for two months, which resulted in a loss of more than 100 jobs. The dairy processor has been in the area for more than 80 years.

The deal is still subject to go through the bidding process – to date, no hearing has been set.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.