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Paper Packaging Business in Tennessee
Listing Information
Attachments
Paper Packaging Business in Tennessee
Price: $7,264,463.00
Other Item Info
Item #: tnmbke_345350
Created: 12/08/2016
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Location: Nashville, Tennessee
Sale Date: Tue. Dec 27, 2016
Created: 12/08/2016
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Location: Nashville, Tennessee
Sale Date: Tue. Dec 27, 2016
Seller Info
Paul G. Jennings
Debtor's Attorney
150 Third Avenue South, Suite 2800
Nashville, TN 37201
615-742-6267
Debtor's Attorney
150 Third Avenue South, Suite 2800
Nashville, TN 37201
615-742-6267
Bankruptcy Info
Case #: 3:16-bk-08624
Case Title: WERTHAN PACKAGING, INC.
Court: Tennessee Middle Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: WERTHAN PACKAGING, INC.
Court: Tennessee Middle Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all the assets of WERTHAN PACKAGING, INC., including rights to leased property, accounts receivable, furniture, fixtures and equipment, certain leases and contracts, intellectual property, inventory, goodwill and general intangibles, and other tangible personal property.
Werthan, based in White House, TN, is a leading supplier of multiwall paper packaging for the pet food industry. This sixth generation company has been an important part of the fabric of Nashville business since the late 1860s.
In 2010 the company began its move to a modern 184,000 sq. ft. facility in White House, Tennessee. During 2016, the company installed a new 10-color flexographic press, and was awarded the Safe Quality Food (SQF) certification. With these initiatives accomplished, the nearly 100 associates of the upgraded company expected to grow its paper packaging business, as well as introduce plastic packaging and packaging for human food into its product mix.
The Sale Assets are more described in "ASSET PURCHASE AGREEMENT" from Page 33-34 on the attached PDF.
Financial Overview
Income and Expenses ($)
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Asset and Liability Summary ($)
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Sale Location
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Nashville, TN, 37201
Additional Details
- Bid Amount: $7,779,463.00
- The initial minimum overbid shall be the Baseline Bid plus $100,000 (the “Initial Overbid”)
- Subsequent Overbid must have a purchase price that exceeds the purchase price of the previous highest bid by at least $100,000
- Last date to respond: December 22, 2016, at 5:00 p.m.