Meat and Poultry Industry News

Quantum Foods completing sale process to ensure future stability

February 19, 2014
/ Print / Reprints /
/ Text Size+

Quantum Foods, LLC, a leading independent custom provider of value-added proteins, announced that it is in the final stages of negotiating a sale of substantially all its business to CTI Foods Holding Co. LLC. 

After evaluating multiple opportunities in the process, a leader emerged with a clear strategy to move Quantum Foods past its financial challenges and onto a path for future success, the company announced in a statement. CTI Foods, with seven existing manufacturing facilities in the United States, would provide a strong infrastructure for Quantum going forward.

“As an industry leading protein processor, Quantum’s well-established and long-standing customer relationships, diverse product offerings and demonstrated focus on quality and safety are recognized as significant value to buyers,” said Edward B. Bleka, Chief Executive Officer, founder and sole owner of Quantum Foods. 

“With enhanced financial backing, Quantum expects to fully deliver on its historic commitment to fulfilling the needs of our customers efficiently, safely and always with superior quality and service.  We believe the completion of the sale process will enable us to focus effectively on caring for our customers, vendor partners and employees, who have all been incredibly supportive to the company,” Bleka added.

To facilitate the expected sale transaction, Quantum Foods has determined it is best to execute this sales process under the protection of the United States Bankruptcy Code.  Quantum Foods has filed a voluntary Chapter 11 petition in the District of Delaware to obtain the essential financing necessary to preserve continuity, to the greatest extent possible, for its customers, employees and business partners.  To this end, the company has secured a commitment for $60 million in debtor-in-possession (DIP) financing from its current lending group led by Crystal Financial LLC to fund its ongoing operations and fully expects to operate its overall business as usual by continuing to provide customers with safe and high quality protein products throughout this process.

In conjunction with the filing, Quantum Foods filed First-Day Motions with the Court to ensure the timely payment of employee wages and benefits, maintain its customers’ promotional programs and complete a smooth transition into operating under the protections of Chapter 11.  The company expects to continue purchasing goods and services from its suppliers and to pay suppliers in the normal course for all goods and services delivered on or after today’s filings, while claims for goods and services delivered prior to the filings will be addressed as a part of the Chapter 11 process. 

As part of the planned sale process through Chapter 11, the company will solicit additional competing offers for Quantum Foods to ensure it achieves the highest and best offer for its business. 

Quantum Foods is being advised in its restructuring by Winston & Strawn, City Capital Advisors, LLC and FTI Consulting, Inc.  Information about the Company’s Chapter 11 case can be accessed at

Source: Quantum Foods LLC

You must login or register in order to post a comment.




Image Galleries


Brenneman analyzes Butterball’s new animal care, well-being program

Rod Brenneman, CEO of Butterball, discusses his company's new Animal Care and Well-Being Program, his company's certification by the American Humane Association and further animal-handling initiatives, all officially announced in September 2013.

More Podcasts

National Provisioner

NP September 2014 cover

September 2014

Check out the September 2014 issue of The National Provisioner, featuring the 2014 Plant of the Year winner, and much more!

Table Of Contents Subscribe

Independent Processor

IP August 2014 cover

August 2014

Check out the August 2014 issue of Independent Processor, with features on meat industry lobbying, the Independent Processor of the Year, and more!

Table Of Contents Subscribe

Provisioner Store

The National Provisioner Source Book

The Sourcebook is an exclusive buyer’s guide and reference tool for product and supplier information in the meat, poultry and seafood marketplace.

More Products


Facebook icon Twitter icon  YouTube iconLinkedIn icon google +