Pipeline Foods: Landus Cooperative winning bidder for Iowa assets

By Sarah Lizee

Olympia, Wash., Oct. 22 – Pipeline Foods, LLC said that Landus Cooperative’s $7.2 million bid was the winning bid for the company’s Atlantic, Iowa, real estate property and facility, according to a notice filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Elite Octane, LLC’s $7 million bid was named backup bid.

A sale hearing is scheduled for Oct. 28.

The company had previously entered into a stalking horse agreement with Scoular Co. The agreement included a cash purchase price of $4.35 million. Bid protections included a $50,000 overbid.

Pipeline Foods is a Minneapolis-based organic food supply chain. The company filed bankruptcy on July 8 under Chapter 11 case number 21-11002.

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