Hilco Streambank to Manage Brand Asset Sale Process for Well-known and Loyally Consumed Soup Brand Hale & Hearty®
New York, NY: Hilco Streambank announced that it is soliciting offers for the intangible assets of Hale & Hearty®, a well-known soup brand with a loyal following across the Northeast. The assets include the highly recognized Hale & Hearty® brand name, wholesome soup recipes, and related intangible assets.
Started in a small storefront on the Upper East Side of New York City, Hale & Hearty® grew quickly into a well-known brand, offering nourishing soups, salads, and sandwiches to busy city-goers. Beloved for its homemade, wholesome, delicious soups and culinary offerings, including sandwiches and salads, Hale & Hearty® ladled up hundreds of soups and more to New Yorkers and Bostonians for more than 20 years.
Bids are due on or before March 27, 2023 at 12:00 p.m. (ET), and an auction will be conducted on March 29, 2023 at 12:00 p.m. (ET). A “stalking horse agreement” has been entered into with Schnipper Restaurants LLC, which is subject to court approval. Parties interested in participating in the auction must submit bids equal to or greater than $340,000.
Hilco Streambank Senior Vice President Richelle Kalnit commented, “The Hale & Hearty® brand is iconic in the Northeast and resonates strongly with a large customer base. An acquirer of the Hale & Hearty® brand assets has the unique opportunity to leverage this widely recognized name and recipe list for a variety of strategic go-forward plans, whether to reopen retail locations serving those returning to the office, offer catering, bring the brand to supermarkets and specialty food stores, extend the brand to offerings beyond soups, and more.”
Interested parties should click here for additional information or contact Hilco Streambank directly.
The assets are being offered by Gregory M. Messer, solely in his capacity as Chapter 7 Trustee of Hale & Hearty Soups L.L.C., pending in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The sale of the assets, the dates set forth herein and entry into the stalking horse agreement are subject to Bankruptcy Court approval.
About Hilco Streambank: Hilco Streambank is a market-leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions, including sales in publicly reported transactions, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital equity investments.