The deal for the former Grew Boats building and land at Rockford has been finalized.
A London court reviewed the sale between Steve Merrick and the receiver, BDO Canada, on Tuesday and gave its’ approval.
Merrick tells Bayshore Broadcasting News he will take over ownership of the 12.85 acres of land and buildings early next week.
He was the high bidder at 430 thousand dollars, although BDO negotiated a higher price following the auction in November.
Originally Merrick — who owns Royal Towing — said he would use the facility for storage.
However, he now plans to rent out the 50 thousand square feet of building and office space to a truck repair business.
BDO Canada Vice President Bill Courage says the sale of the buildings and property on Highway 6 south of Owen Sound, completes the sale of assets from the former Boat business.
An earlier auction in late August — saw hundreds of people purchasing numerous items like cars and boats.
Grew Boats has liabilities of more than two million dollars owed to about one hundred creditors including two dozen employees when it went into receivership.
