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