Minnesota family acquires Polaroid majority in $70M deal

Minnesota's Pohlad family has acquired majority ownership of Polaroid in a $70 million deal.

Minnetonka-based Polaroid entered bankruptcy in 2008, when most of its assets were sold to private investors. However, the bankruptcy estate still held a partial ownership estate in the company.

Last week, a federal bankruptcy judge approved selling the stake to the Pohlads and an undisclosed partner, according to The Associated Press.

Read more from The Associated Press.