Jacob North Bought, Avoiding Liquidation

A South Dakota printing company has bought Jacob North Co., ensuring the 125-year-old Lincoln, NE, business will not cease operations. Midstates Printing of Aberdeen, SD, was the top bidder in a bankruptcy auction last week, agreeing to pay $1.35 million. That beat a bid of $1,050,000 by Cornerstone Printing of Lincoln.

Midstates also agreed to pay an additional $322,500 for two printers and a box truck. The company, however, will not take on any of Jacob North's liabilities.

Midstates officials could not be reached for comment, but Matt Feickert, vice president of operations for the company, said in a news release that