A sale of the former Vreba-Hoff dairies in southeastern Michigan has been finalized by the bank that foreclosed on the properties.
The Daily Telegram of Adrian reported that documents were signed Friday for Rabo AgriFinance to sell the dairies to Kaukauna, Wis.-based Milk Source LLC.
The purchase includes three dairy farms and 2,250 acres of farmland near Hudson. Milk Source co-owner Jim Ostrom said the total investment will be as much as $90 million and the company expects to employ 100 full-time workers.
Rabo AgriFinance filed a foreclosure complaint in federal court in 2010 and shut down the operations. Vreba-Hoff had blamed the dairy's financial failure on low milk prices and high feed costs.
The former owner also had repeated legal battles with state environmental regulators over mismanaging manure.