West Liberty Foods LLC announced Monday that it has closed on the purchase of substantially all assets of Bolingbrook, Ill.-based Quantum Foods.
West Liberty Foods expects to begin meat processing operations at the Bolingbrook location within the next 30 days, officials said in a news release.
“This is an exciting step forward for West Liberty Foods,” said Ed Garrett, president and CEO. “This acquisition will enhance our offerings and benefit our customers, employees and owners. In addition, we will be able to bring back jobs lost when Quantum Foods shut down its business.”
According to its website, Quantum Foods was founded in 1990 as a hand-cut butchering operation servicing national restaurants and retail markets. In 2000, it began selling products to the military. As military operations expanded, so did Quantum Foods’ business. Quantum was a producer of value-added protein products such as portion-controlled, ready-to-cook and value-added fully cooked foods made from beef, poultry and pork.
According to meatpoultry.com, until Monday's announcement, a webcast auction was scheduled for today through Thursday for assets up for bid, including a 220,000-square-foot production facility, an 80,000-square-foot culinary facility and a 250,000-square-foot cold-storage distribution center.
Quantum Foods filed for Chapter 11 bankruptcy protection in February. It attempted to strike a deal with Raging Bull Acquisition Co. to sell the company for $54 million, but the deal fell through in May.
West Liberty Foods has three manufacturing locations: West Liberty and Mount Pleasant, Iowa, and Tremonton, Utah. The company is headquartered in West Liberty.
West Liberty Foods is a co-packer, private-label manufacturer, and food service supplier of sliced deli meats and fully cooked IQF products.
There are about 850 employees at the West Liberty plant and 1,900 company wide, officials said.