{"id":17811,"date":"2020-03-13T00:00:00","date_gmt":"2020-03-13T04:00:00","guid":{"rendered":"https:\/\/livingstagenew.wpenginepowered.com\/transaction\/livingstone-completes-363-sale-of-leading-food-contract-manufacturer\/"},"modified":"2026-06-25T10:37:05","modified_gmt":"2026-06-25T14:37:05","slug":"livingstone-completes-363-sale-of-leading-food-contract-manufacturer","status":"publish","type":"transaction","link":"https:\/\/livingstonepartners.com\/sv\/transaction\/livingstone-completes-363-sale-of-leading-food-contract-manufacturer\/","title":{"rendered":"Livingstone completes \u00a7363 sale of leading food contract manufacturer"},"content":{"rendered":"\n

Livingstone is pleased to announce the sale of Arro Corporation (\u201cArro\u201d or the \u201cCompany\u201d) to an affiliate of <\/strong>Mount Franklin Foods, LLC<\/strong><\/a>.  The sale was consummated pursuant to \u00a7363 of Chapter 11 of the United States Bankruptcy Code.  Livingstone acted as the exclusive financial advisor to Arro.<\/strong><\/p>

Founded in 1986, Arro operates two divisions, food processing and ingredients. Arro\u2019s food processing division, headquartered in Hodgkins, Illinois, is a leading food contract manufacturer, specializing in product development and packaging solutions for the bake mix, powdered beverage, ingredient, and cereal, trail mix, and nut categories. Arro\u2019s ingredients division, headquartered in Chicago, Illinois, operates a dedicated bulk ingredient blending and transfer facility, which provides large format handling and storage solutions for a wide array of food and food ingredient companies. The Company will be renamed Element Food Solutions, LLC<\/a>, and will operate as an independent business unit under the Mount Franklin Foods parent organization.<\/p>

Mount Franklin Foods, headquartered in El Paso, Texas, is a leading North American manufacturer of high-quality confections, nut products, mints, culinary plant-based proteins, bake mixes, powdered beverages, and ingredients.  Mount Franklin Foods serves major retailers, wholesalers, co-manufacturing customers, and foodservice distributors through its Sunrise Confections, Azar Nut, and Hospitality Mints divisions.<\/p>

\u201cWith the Company filing for Chapter 11 protection on December 13, 2019 and the transaction closing on March 13, 2020, Arro illustrates another example of Livingstone\u2019s ability to get a challenging transaction successfully completed in a tight timeframe,\u201d<\/em> said Joseph Greenwood<\/strong><\/a>, Special Situations Partner at Livingstone.<\/strong><\/p>

Livingstone has extensive experience advising middle-market companies through M&A, financing, and balance sheet restructuring transactions during periods of underperformance, distress, and insolvency.<\/p>

Other professionals for Arro include Andrews Advisory Group, LLC<\/a> as restructuring advisor, Adelman & Gettleman Ltd<\/a> as debtor counsel, and MorrisAnderson & Associaties, Ltd<\/a> as independent director.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":3555,"template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"client-type":[],"region":[],"sector":[],"service":[],"transaction-type":[],"class_list":["post-17811","transaction","type-transaction","status-publish","has-post-thumbnail","hentry"],"acf":{"team_members":[1932,1944,1949],"date":"20200313","client_type":58,"type":[1063],"region":[410],"services":[472],"sectors":[899,910],"related_transactions":"","related_testimonials":[53518],"contacts":""},"yoast_head":"\nLivingstone completes \u00a7363 sale of leading food contract manufacturer - Livingstone Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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