(WBBM NEWSRADIO) - Oberweis Dairy announced that it’s received a bid to purchase the majority of its assets while a private equity firm announced it wants to buy the company.
Less than two weeks after Oberweis filed for chapter 11 bankruptcy protection, the company said Chicago-based Dutch Farms is a stalking horse bidder, which sets the bar for pricing. While the Winnetka-based Hoffman Family of Companies said it wants to buy the company.
Oberweis said, if approved by a judge, Dutch Farms plans to operate and grow the business, and a statement from the Hoffman Family said it intends to make a competitive offer to buy and operate the company.
Oberweis, in business for nearly 100 years, has $4 million in debt.
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