Iowa Company Buys Assets Of Illinois Food Firm
WEST LIBERTY, Iowa (AP) -- West Liberty Foods LLC says it has bought substantially all of the assets of an Illinois company that had filed for Chapter 11 bankruptcy protection.
The Quad-City Times says (http://bit.ly/1nAXVDl ) the purchase of Bolingbrook, Illinois-based Quantum Foods was announced on Monday. The transaction was valued at $12.7 million.
West Liberty officials say they expect to begin meat processing operations at the Bolingbrook location within the next 30 days.
Quantum Foods filed for Chapter 11 bankruptcy protection in February. It produced ready-to-cook and fully cooked foods made from beef, poultry and pork.
West Liberty Foods has three manufacturing locations: West Liberty and Mount Pleasant in Iowa, and at Tremonton, Utah. The company is headquartered in West Liberty.