Pipeline Foods closes sale of Iowa assets to Landus Cooperative

By Sarah Lizee

Olympia, Wash., Nov. 3 – Pipeline Foods, LLC closed the sale of its Atlantic, Iowa, real estate property and facility to Landus Cooperative for $7.2 million, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

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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