Stout advised Country Fresh Holding Company Inc. and its affiliates (collectively “FFG”) on the successful sale of its assets. The deal, which closed in April 2021, was conducted through three separate transactions pursuant to Section 363 of the U.S. Bankruptcy Code and an ancillary Companies’ Creditors Arrangement Act (“CCAA”) proceeding in Canada.
FFG was founded as a private equity-owned roll-up of food processing businesses with a complex footprint consisting of 11 processing facilities in the U.S. and Canada. After the roll-up in 2017 of Country Fresh Foods, Sun Rich Fresh Foods, and Tiffany Gate Foods (which rebranded to the Fresh Food Group), the consolidated business faced integration challenges and competitive pressures. In addition, COVID-19 negatively impacted demand for FFG’s fresh-cut produce and foodservice segments.