Giant Eagle's purchase of LeNature plant revoked
PITTSBURGH A bankruptcy court judge on Thursday revoked the Giant Eagle purchase of a LeNature’s plant in Latrobe for $20 million, ruling the grocer intimidated rival bidder Cadbury Schweppes, the Pittsburgh Business Times reported today.
Accordingly, Cadbury was awarded the LeNature’s plant for its second-highest bid of $19 million. Cadbury, however, plans to sell the plant, possibly back to Giant Eagle.
LeNature’s bankruptcy trustee asked that Giant Eagle’s bid be revoked following allegations that the retailer threatened to pull its business from Cadbury prior to the bidding process.