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AstroTurf Approved to Sell for 16 Million

AstroTurf Approved to Sell for 16 Million

 

AstroTurf LLC logo

Competitor APT Advanced Polymer Technology was approved to take over AstroTurf's marketing operations in Georgia for roughly $16.1 million.  GlassRatner was previously retained as the Financial Advisor to The Official Committee of Unsecured Creditors in the DIP turf dispute between FieldTurf USA Inc. and their competitor AstroTurf LLC. The Wall Street Journal recently posted the following article on August 15th, 2016:  


"A bankruptcy judge has cleared a competitor of AstroTurf LLC to take over its Georgia-based marketing operations, which struggled after the company lost a $30 million patent dispute last year.

With his signature, Judge Paul Bonapfel approved the roughly $16.1 million sale agreement between AstroTurf and an affiliate of APT Advanced Polymer Technology Corp., a competitor based outside of Pittsburgh.

Astroturf lawyers proposed to sell the Dalton, GA., company, which markets and sells artificial turf products to university athletic departments and sports facilities, after putting its operations into Chapter 11 protection on June 28."

To read the entire article, visit the website below.

http://www.wsj.com/articles/judge-approves-16-million-astroturf-sale-1471286131

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