This is a public record generated listing.

Chemicals Wholesale Business in New York

Please note that this listing has expired. To view active listings, please subscribe to one of our plans.
Add to Dashboard

Listing Information

Attachments

Chemicals Wholesale Business in New York



Price: $338,000,000.00


Other Item Info
Item #: njbke_1036892
Created: 03/02/2019
Category: Business Property > All Assets or Going Concerns > Chemicals
Sale Location: New York, New York
Sale Date: Fri. Apr 12, 2019
Seller Info
Kenneth A. Rosen
Debtor's Attorney
65 Livingston Avenue
Rosaland, NJ 07068
(973) 597-2548
Bankruptcy Info
Case #: 2:19-bk-13448
Case Title: Aceto Corporation
Court: New Jersey Bankruptcy Court
Chapter: 11
View Case Docket

See More Documents

Description

Sale of substantially all of assets of the Aceto Corporation, Aceto Agricultural Chemicals Corporation and Aceto Realty LLC (together, the “Sellers” and each a “Seller”). The sale assets including all of the right, title and interest of Sellers in, to or under all of the properties and assets of Sellers used primarily in the Chemical Plus Business (other than the Excluded Assets), including the following:

  • All outstanding shares of capital stock or other equity interests of the Purchased Subsidiaries (other than (i) 8,401 shares of Aceto HK that are owned by Aceto Bermuda, (ii) the Class A Preferred Shares of Aceto Bermuda which are owned by Aceto (Shanghai) Ltd.7 and (iii) 70% of the outstanding equity interests of the Joint Venture, which are owned by United Phosphorus Inc.); provided, notwithstanding anything contained in the Stalking Horse Agreement to the contrary, Buyer may, upon prior written notice to Sellers, assign the right to purchase such shares of capital stock or other equity interests to one or more wholly-owned Subsidiaries of the Buyer; provided, further, that no such assignment shall relieve Buyer of any Liability or obligation under the Stalking Horse Agreement;
  • The Accounts Receivable of Sellers outstanding as of the Closing Date;
  • To the extent assignable pursuant to Sections 363 and 365 of the Bankruptcy Code, the Contracts listed or described on Schedule 1.1(c) as of the Assumption Deadline, as may be amended by Buyer as provided herein (the “Assumed Contracts”), and all purchase orders of the Sellers in respect of the Acquired Business that are issued in the Ordinary Course of Business and outstanding as of the Closing Date (the “Assumed Purchase Orders”);
  • To the extent assignable pursuant to Sections 363 and 365 of the Bankruptcy Code, the Real Property Lease(s) of Sellers, and rights thereunder, listed or described on Schedule 1.1(d) (such Real Property Lease(s), the “Assumed Real Property Lease(s)”);
  • Any Owned Real Property of a Seller set forth on Schedule 1.1(e);
  • All rights (including goodwill, if any) in and to the products set forth on Schedule 1.1(f) (the “Products”) and all Product registrations and related registration information (including applications that are in the process of being prepared by a Seller or an Acquired Subsidiary for Product registrations);
  • The equipment, machinery, forklifts, vehicles, fixtures, furniture, furnishings, signage, leasehold improvements and other tangible personal property owned by each Seller as of the Closing Date that are (A) located on or at the Acquired Real Property and held primarily for, or used primarily in, the Acquired Business, (B) held primarily for, or used primarily in, the Acquired Business and existing as of the Closing or (C) set forth on Schedule 1.1(g);
  • To the extent assignable pursuant to Sections 363 and 365 of the Bankruptcy Code, all Permits and pending applications therefor;
  • To the extent assignable pursuant to Sections 363 and 365 of the Bankruptcy Code, all Intellectual Property that is owned or licensed by each Seller (A) held primarily for, or used primarily in, the Acquired Business and existing as of the Closing or (B) set forth on Schedule 1.1(i);
  • All Books and Records related primarily to the Acquired Business, except those: (i) relating primarily to any Excluded Asset or Excluded Liability; (ii) relating primarily to employees of a Seller or any Purchased Subsidiary who are not Transferred Employees; or (iii) that a Seller or any Purchased Subsidiary is not permitted to transfer under applicable Law;
  • All telephone and facsimile numbers, email and web addresses, social media accounts and other directory listings used primarily in connection with the Acquired Business, to the extent assignable;
  • (l) to the extent assignable pursuant to Sections 363 and 365 of the Bankruptcy Code, the equipment leases listed or described on Schedule 1.1(l) (the “Assumed Equipment Leases” and together with the Assumed Contracts and Assumed Real Property Lease(s), the “Buyer Assumed Agreements”);
  • Other than as set forth on Schedule 1.1(m), any rights, claims, credits, refunds, causes of action, choses in action, rights of recovery and rights of setoff of each Seller against third parties arising out of, or primarily related to, the Purchased Assets or the Acquired Business, including any rights in connection with product returns, rebates, credits and related claims and any rights under or pursuant to any and all warranties, representations and guarantees made by suppliers, manufacturers and contractors relating to products sold, or services provided, to each Seller primarily related to the Purchased Assets or the Acquired Business;
  • All rights of each Seller under non-disclosure or confidentiality, nondisparagement, non-compete, or non-solicitation agreements with the Transferred Employees or any employees of each Seller terminated within two (2) years prior to the Closing Date, or with any agents of each Seller or with third parties, in each case, related primarily to the Acquired Business;
  • (1) the Seller Benefit Plans listed on Schedule 1.1(o)(1), solely to the extent such pertains to a Transferred Employee and (2) the Seller Benefit Plans listed on Schedule 1.1(o)(2), whether or not pertaining to a Transferred Employee (collectively, the “Assumed Plans”), and any trusts, assets, reserves, credits and service agreements, but only to the extent of the Transferred Employees, and all documents created, filed or maintained in connection with the Assumed Plans to the extent transferable in accordance with the existing terms and conditions of such Assumed Plans, any applicable insurance policies related to the Assumed Plans and Bankruptcy Court approval;
  • All Purchased Deposits;
  • All Inventory held by each Seller primarily for use in the Acquired Business as of the Closing Date;
  • The additional assets listed on Schedule 1.1(r);
  • All rights under insurance policies of the Sellers to the extent relating to any Assumed Liability;
  • All goodwill as of the Closing Date that is associated with the Acquired Business not expressly referenced in Sections 1.1(a) through 1.1(s); and
  • All avoidance actions (including any proceeds thereof), including all claims and causes of action arising under Sections 544 through 553 of the Bankruptcy Code or any analogous state law, but only to the extent such actions are against the following parties (collectively, the “Designated Parties”): (i) any of the Sellers’ vendors, suppliers, customers, or trade creditors in regards or related to the Purchased Assets or Acquired Business and (ii) any counterparties to any Buyer Assumed Agreements (collectively, the “Purchased Avoidance Actions”); provided, that it is understood and agreed by the parties that the Buyer will not assert or pursue any Purchased Avoidance Actions against any of the Designated Parties other than as a defense, offset, or counterclaim against any claim or cause of action raised or asserted by such Designated Party.

Sale Location

Javascript is required to view this map.
1251 Avenue of the Americas
New York, NY, 10020

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Sale Hearing Held on April 16, 2019 at 10:00 a.m.
  3. Bid Amount: It (in combination with any other bids for some or all of such assets) provides for a cash purchase price that exceeds the aggregate cash consideration to be paid to or for the benefit of the Sellers’ estates set forth in the Stalking Horse Agreement by at least $9,760,000, which represents the sum of: (i) the Break-Up Fee of $6,760,000 (2% of the cash component of the Base Purchase Price), plus (ii) the maximum amount of the Expense Reimbursement of $2,000,000, plus (iii) an overbid of $1,000,000, and otherwise has a value to the Sellers.
  4. Bid Increment: $1,000,000
  5. Bid Deposit: 10% of the aggregate purchase price
  6. Bid Deadline: April 8, 2019
  7. Last date to respond: April 5, 2019


Other Information

Terms and Conditions:

See Attached.


Subscribe to our free newsletters

* indicates required
Send me information about...
Choose the CaseFolder where you want to see this Deal, or create a new CaseFolder Lite.