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Heritage Global Partners to Conduct Public Foreclosure Sale for Assets of Forward Foods LLC
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
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Rhea-AI Summary
Heritage Global Partners announced a public foreclosure sale of assets owned by Forward Foods LLC, including trademarks, recipes, agreements, accounts receivables, and inventory. The auction will take place on October 25, allowing bidders to acquire the assets of the well-known ‘Detour’ and ‘Overnight Oats’ brands. This sale represents a significant opportunity for companies in the health and nutrition sectors. Interested bidders can find more information on HGP's website.
Positive
Opportunity to acquire valuable brand assets related to 'Detour' and 'Overnight Oats'.
Inclusion of intellectual property like trademarks and recipes, enhancing potential for bidders.
Negative
None.
By Order of the Secured Party Pursuant to Section 9-609 and 9-610 of the Delaware Commercial Code
Sale Features Trademarks & Associated Recipes, Various Agreements Including Warehouse, Sublicense and Distribution Agreements, Accounts Receivables, Raw Material & Finished Good Inventory, Domain Names & Social Media Accounts
SAN DIEGO--(BUSINESS WIRE)--
Heritage Global Partners (“HGP”), a worldwide leader in asset advisory and auction services, and a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced today that, by order of the Secured Party, it will be conducting a public foreclosure sale of assets owned by Forward Foods LLC. All assets will be offered as a single package and sold to the highest bidder in one lot. The assets included for sale include trademarks & associated recipes, various agreements (including warehouse, sublicense, and distribution agreements), accounts receivables, raw material & finished good inventory, domain names & social media accounts.
Forward Foods LLC is most widely known for its “Detour” and “Overnight Oats” brand of nutrition bars and product lines. “This is a great opportunity to acquire the assets of a well-known brand, especially for those in the health and nutrition and food & beverage sectors,” said Nick Dove, President of HGP. “Intellectual property related to the Detour and Overnight Oats Bar, including trademarks, recipes and domain names are available for sale and we look forward to a successful sale process.”
The auction sale will be held telephonically on October 25th. Interested parties can view the complete listing of all assets for sale and learn how to qualify as a bidder by reviewing the info on HGP’s website, also found here: https://www.hgpauction.com/auctions/113532/forwardfoods/.
About HGP
Heritage Global Partners, Inc. Is a subsidiary of Heritage Global Inc. (NASDAQ:HGBL) and one of the world’s largest industrial auction firms, providing asset valuation, acquisition and disposition services.
About Heritage Global Inc.
Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations, and secured lending. Heritage Global focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.
What assets are being sold by Heritage Global Partners for HGBL?
Heritage Global Partners is selling trademarks, recipes, various agreements, accounts receivables, raw material and finished good inventory, and social media accounts of Forward Foods LLC.
When is the auction for the Forward Foods LLC assets?
The auction will be held on October 25.
What brands are associated with the assets being auctioned by HGBL?
The auction features assets associated with the 'Detour' and 'Overnight Oats' nutrition bar brands.
How can interested parties participate in the auction for HGBL's assets?
Interested bidders can view complete listings and qualify as bidders by visiting HGP's auction website.
