Meat and Poultry Industry News

Auction set for assets of Quantum Foods

By order of the U.S. Bankruptcy Court, Tiger Group’s Remarketing Services Division and Schneider Industries will conduct a live webcast auction on June 24, 25 and 26 for the assets of meat and poultry processing packing and distribution facilities formerly owned by Quantum Foods. Online bidding is now under way for the assets, which include a 220,000-square-foot production facility, an 80,000-square-foot culinary facility, and a 250,000-square-foot cold-storage distribution center.

Bidders can attend the June 24 through June 26 event in person at Quantum’s main plant located at 750 S. Schmidt Rd. in Bolingbrook, or can participate in the live webcast through bidspotter.com. The auctions begin at 10:30 a.m. (CT) each day. For direct links to the sale catalog, and to submit bids prior to the auction, go to www.SoldTiger.com

Previews will be held at each of the three individual sites in Bolingbrook, from 9:00 a,m. to 5:00 p.m. (CT) on June 20th, 21st and 23rd. In addition to the main plant at 750 S. Schmidt Rd., these facilities include the culinary plant at 525 W. Crossroads Parkway and the cold storage distribution center at 550 Historic U.S. 66 Frontage.

 “This falls in the ‘sales not to miss’ category for anyone in the meat processing and packaging industries, as well food processing, cold storage, distribution or related businesses,” said Jeff Tanenbaum, President of Tiger Remarketing Services. “With over 600,000 square feet of equipment in excellent condition, buyers will find some great buying opportunities.  The real opportunity, though, would be for someone to buy the operation intact, something that we are continuing to entertain up until the auction date.”

Quantum Foods was launched more than two decades ago, as a hand-cut beef butcher. The company ultimately grew to an approximately 1,100-employee operation, supplying commercial accounts as well as overseas military bases. However, the recent withdrawal of troops in the Middle East, along with the loss of top retail clients, hurt its business operations, leading the company to file for Chapter 11 bankruptcy on February 18, 2014 in the Delaware Bankruptcy Court (case number 1:14-bk-10318). A proposed sale for the company to a new owner fell through at the last moment.

The auction features equipment from all major brands - Formax, Vemag, JBT, CFS, Aerofreeze, Tiromat, Hayssen, Ishida, Yamoto, Safeline, FPEC, Wolf Tec, Marlen, Challenge, Carouthers, Alkar, Polac, and Wolf King. The offering includes mixing, grinding, forming, tenderizing and cutting equipment, as well as cooking and frying lines and smokehouses at the company’s 220,000-square-foot main plant and 80,000-square-foot culinary plant.

The sale also includes pallet racking, material handling equipment and a late model hyperbaric high-pressure pasteurizing unit at the company’s 250,000-square-foot cold storage distribution center, as well as trucks, trailers, boilers, compressors, office equipment and other support equipment throughout all facilities.

Source: Tiger Group

Recent Articles by Industry News

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

Multimedia

Videos

Image Galleries

Podcasts

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

0315np_cover.jpg

March 2015

The March 2015 issue of NP features: Ingredients: In search of the right spice; Packaging: Will solvent-based continuous printing expire?; and a new column, Get Real with Beef: Regionality brings out the best.
Table Of Contents Subscribe

Independent Processor

.

February 2015

The February issue of IP features cover story: The great speckled bird. 

Table Of Contents Subscribe

Provisioner Store

NP-SB-2014Cover.jpg
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

Sourcebook

A complete reference guide to supplies. Go to NP's Sourcebook now to check out the latest and greatest in the meat and poultry processing business.

STAY CONNECTED

Facebook icon Twitter icon  YouTube iconLinkedIn icon google +

eNewsletters

Provisioner Prime is a twice weekly electronic newsletter created by the editors of The National Provisioner. Provisioner Prime appears in your inbox every Tuesday and Thursday with a recap of the week's top news and trends. Provisioner Prime also offers you exclusive access to industry analysis, blogs, events, podcasts, videos, webinars and The National Provisioner feature articles. 

Sign up for Provisioner Prime HERE.