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February 14, 2016 10:52 AM ET

Food Products

Company Overview of Quantum Foods, LLC

Company Overview

Quantum Foods, LLC was acquired by West Liberty Foods, L.L.C. Quantum Foods, LLC manufactures and distributes protein products and custom menu solutions. It offers beef, pork, and poultry to quick service, fast casual, midscale, and casual dining chains, as well as military and school foodservice channels; portion control steaks, chops, and roasts; custom ready to cook products; and fully cooked/ready to eat products. The company also partners with retailers on private label programs, and prepared meals and deli solutions. In addition, it offers culinary, and product development/research and development services; marketing services that include menu assessment/analysis, marketplace insights,...

750 South Schmidt Road

Bolingbrook, IL 60440

United States

Founded in 1990

Phone:

630-679-2300

Fax:

630-679-1257

Key Executives for Quantum Foods, LLC

Quantum Foods, LLC does not have any Key Executives recorded.

Quantum Foods, LLC Key Developments

Motion for Asset Sale Approved for Quantum Foods, LLC

The US Bankruptcy Court gave an order approving the entry into purchase agreement certain assets the assets of Quantum Foods, LLC on June 19, 2014. The debtor has been authorized to sell Equipment located at 525 Crossroads Parkway and 750 South Schmidt Road to West Liberty Foods, L.L.C, the stalking horse bidder, for a purchase price of $11.9 million in cash, as per the purchase agreement dated June 11, 2014. The earnest deposit will be of $3.13 million. The debtor’s assets include all rights, title and interests of Sellers in and to all of the properties, assets and rights of the Quantum Foods and shall include the trade name, trademarks, and all other intellectual property and also specifically shall include Lot #3 GDC Racking and Lot #4 High Pressure Pasteurization located at the premises known as 550 West North Frontage Road, Bolingbrook.

Motion for Asset Sale Filed by Quantum Foods, LLC

Quantum Foods, LLC filed a motion in the US Bankruptcy Court for the sale of its certain assets on June 13, 2014. The debtor seeks the Court’s approval for the sale of its Equipment located at 525 Crossroads Parkway and 750 South Schmidt Road to West Liberty Foods, L.L.C for a purchase price of $11.9 million in cash pursuant to the asset purchase agreement dated June 13, 2014. As per the agreement, West Liberty shall make a deposit of $3.13 million. If the sale does not close, Quantum Foods will keep the deposit. The debtor’s assets include all rights, title and interests of Sellers in and to all of the properties, assets and rights of the Quantum Foods and shall include the trade name, trademarks, and all other intellectual property and also specifically shall include Lot #3 GDC Racking and Lot #4 High Pressure Pasteurization located at the premises known as 550 West North Frontage Road, Bolingbrook. The debtor does not contemplate an auction. Daniel J. McGuire and Gregory M. Gartland of Winston & Strawn LLP acted as advisor to Quantum Foods, LLC.

Motion for Asset Sale Approved for Quantum Foods, LLC

The US Bankruptcy Court authorized Quantum Foods, LLC to enter into agency and sale agreement on June 3, 2014. As per the order, debtor and Tiger Remarketing Services entered into an agency and sale agreement for sale of debtors' machinery, equipment, furniture and fixtures. Court also approved agency and sale agreement between debtors and Tiger Capital Group, LLC for the sale of debtors' inventory and intellectual property. Court has also approved Turn-Key asset sale bid procedures. Tiger will get commission of 6% from the sale between $0 to $7.5 million; 7% from the sale between $7.5 to $8.5 and 8.5% from the sale of $8.5 million and above. Tiger will be entitled to reimbursement for the cost of up to $0.20 million. Tiger shall be entitled to 2.5% of sale proceeds in case of a Turn-Key Pre-Sale. Tiger shall schedule the auction for machinery, equipment, furniture and fixtures to occur no later than the week of June 23, 2014. In the event debtor secured a potential buyer for Turn-Key assets, then debtor will file a motion to approve sale by June 11, 2014 and sale hearing will be held by June 17, 2014.

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