Reap Payoffs on Troubled Agriculture Loans

Published on January 18, 2021

Vineyard

With the global Pandemic stressing operations of agriculture businesses, we are helping lenders throughout the Western U.S. assess their options for troubled credits.

Our team of agribusiness and real estate experts knows its way around farms, dairies, vineyards, crops and massive fields of flowers. Lenders rely on us to optimize their return of capital by taking possession of agriculture businesses and assets, right-sizing operations, and designing and implementing asset dispositions and going-concern sales.


Results Matter – Agriculture Recoveries

Real Estate & Business Receivership of Operating Dairy & Associated Businesses

Dairy Cows

Achieved a 100% return of capital for the lender to a bankrupt $75MM dairy business involving multiple farms and 20,000 head of cattle.

Stapleton was appointed receiver to liquidate the business after a protracted Ch. 11 bankruptcy failed.

  • Interim CEO/CFO of the dairy operation while simultaneously selling its farms, animals and transport assets in a timely manner.
  • Coordinated between stock yards, auctions yards, ranch hands, long haul trucking, buyers, brokers, defendant’s accounting team, dairy cooperatives, veterinarians and feed suppliers.

Interim Management & Sale of Vineyard

VineyardAchieved the lender’s targeted return of capital on its loan to a vineyard suffering from severe capital constraints.

After foreclosing on the property, the bank retained Stapleton in late summer to turn around operations, salvage inventory and monetize ready-to-harvest grapes.

  • Sourced and negotiated harvesting contract in less than 2 weeks.
  • Salvaged large portion of the crop, which had been neglected throughout the summer.
  • Negotiated the sale of the crop, returning proceeds to the bank.
  • Generated cash flow to fund operations throughout the engagement.
  • Prepped the farm for winter.
  • Negotiated future water rights to assure a successful going-concern sale.
  • Listed farm with broker and managed the sale process through successful closing.

Interim CRO & Sellside M&A of Bankrupt Commercial Nurseries

Commercial NurseryOptimized lender’s return of capital from a bankrupt national nursery with 1,200 employees.

Extraordinary weather conditions over two years severely impacted annual sales, stressing cash flow. Stapleton was named Interim CRO to turnaround and sell the business.

  • Named interim operations and financial manager to oversee operations and employees.
  • Developed and implemented a go-forward business plan.
  • Determined the short and long-term exit options for the bank.
  • Maintained operations to enable going-concern sale.
  • Managed the sale of the company within the lender’s short timeline.

To learn more, please contact David Kieffer.

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