Bankrupt Atlantic Natural Foods Agrees to Assets Auction

June 26, 2025

The court-supervised process for the maker of Loma Linda products is open till July 24; partner Century Pacific North America of the Philippines is the stalking horse bidder.

Dave Fusaro

Bankrupt Atlantic Natural Foods, manufacturer of Loma Linda, Neat and Tuno shelf-stable meat analogue products, has agreed to a court-supervised auction of its assets, with Century Pacific North America Enterprise Inc. as the stalking horse bidder.

Century Pacific, based in Philippines, apparently has been manufacturing Iconic Big Franks, Fry Chick and Skallops under the Loma Linda brand for Seven Day Adventist consumers since March under an agreement with Atlantic Natural. The two firms have an asset purchase agreement.

Atlantic Natural 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 UK, EU, Korea, South Africa and Australia.

Now based in Nashville, N.C., Atlantic Natural filed for Chapter 11 bankruptcy protection back in April. The company’s assets were valued at $10-50 million against liabilities of $1-10 million. At the time, it expected to reorganize its business.

In today’s (June 26) announcement, Douglas Hines, chairman and general partner of Atlantic Natural Foods, said, “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.”

The company withdrew from a pending partnership with Above Foods late last year, after three years of work to go public with the partnership. Both companies mutually agreed to calling off the deal while retaining shares and/or interest in the other.

Its heritage company, Loma Linda Food Co., was founded in 1905 by John Harvey Kellogg, brother of Kellogg Co. founder W.K. Kellogg, as The Sanitarium Food Co. It was owned by the Seventh-day Adventist Church until 1990, according to Wikipedia, and then by Worthington Foods.

According to AdventistToday.org, the Loma Linda brand’s meat substitutes have been staples in kitchens of those transitioning to a vegetarian diet as they join the church. The site noted that a loss of the Loma Linda brand would be a significant loss to Adventist culture if it should disappear.

Bids in the bankruptcy auction will be taken until 5 p.m. CT on July 24 by Tristan Manthey of Fishman Haygood LLP, 201 St. Charles Avenue, Suite 4600, New Orleans, Louisiana; email: [email protected]; phone (504) 556-5561.

About the Author

Dave Fusaro | Editor in Chief

Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.