Atlantic Natural Foods to Conduct Court Approved Bid Process

Leading manufacturer of shelf-stable plant-based foods confirms it has received an Asset Purchase Agreement (APA) and moving forward with Bid Process

NEW ORLEANS, June 26, 2025 /PRNewswire/ -- Atlantic Natural Foods, LLC (ANF), a leading shelf-stable manufacturer of award-winning Loma Linda®, neat™ and TUNO™ brands, confirms it has entered into an Asset Purchase Agreement (APA) with Century Pacific North America Enterprise, Inc. (Century Pacific) of the Philippines.  On June 24, 2025, the United States Bankruptcy Court for the Eastern District of Louisiana approved the bidding procedures and Century Pacific as the stalking horse bidder. Under the approved bidding procedures, any written bids are to be actually received no later than July 24, 2025, by 5:00 p.m. (CT).  If additional qualified bids other than the bid by Century Pacific are received, an auction shall be conducted on July 28, 2025 at 10:00 a.m. (CT).  If any party is interested in bidding, they shall contact Tristan Manthey, Fishman Haygood, L.L.P., 201 St. Charles Avenue, Suite 4600, New Orleans, Louisiana; email: tmanthey@fishmanhaygood.com; phone: (504) 556-5561, to obtain a copy of the court approved bidding procedures and the sale teaser. 

ANF's production operations in North Carolina ceased in March as the company transferred its primary supply location to the Philippines for its Iconic Big Franks, Fry Chick, and Skallops under the Loma Linda brand for its loyal Seven Day Adventist consumers.

Following its December 18 announcement of its withdrawal from the pending transaction with Above Foods Ingredients, Inc. the company accelerated the restructuring of its supply chain model which had been in the process of transitioning to other locations since January 2024.

"During this period, ANF experienced rapid cost escalation with material impact directly related to Tariffs on steel (from which our cans are made), grains, spices, along with egg whites and more. The restructuring of government tariffs, inflation, price pressures from government and others, labor, insurance coupled with cybersecurity attacks which have created IT cost to increase three times which showed no relief on the near horizon," said Douglas Hines, Chairman and General Partner of Atlantic Natural Foods.

Challenges in the supply chain and a critical business environment proved too great and left no option for a clear path forward but to shutter the operation and move rapidly with a restructure. "There is simply too much uncertainty right now," continued Hines.

The earlier determination to reposition production to Century Pacific has been planned for over a year and allows supply to continue well into the next generation under the Company's oversight, infrastructure, production capacities and capital. 

"The past months have been the most painful business experience in my 50 years in the food industry; however, our mission to ensure a continuing food source for the Adventist consumer has remained our #1 priority and in that we can take great pride in being able to ensure a successful future."

About Atlantic Natural Foods

Headquartered in Nashville, NC, Atlantic Natural Foods is the leading shelf stable manufacturer and provider of Loma Linda®, TUNO™, neat® and Kaffree Roma™ brand products.  Its mission is to provide affordable, sustainable and healthy sources of plant-based protein food for all lifestyles and people to live healthier, longer lives.  The company operates its own manufacturing facility as well as a joint project in Philippines and Thailand.  The brands are sold throughout the U.S. and in 30 countries, including the U.K., EU, Korea, South Africa, and Australia.  To learn more about Atlantic Natural Foods, please visit www.atlanticnaturalfoods.com or follow the brand on Facebook, Instagram or Twitter. 

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SOURCE Atlantic Natural Foods