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Print ArticleLast November, Topps Meat Co. was forced into bankruptcy after having to make one of the largest beef recalls in U.S. history – 21.7 million pounds of meat, after some of its product was found to contain the E. coli bacteria. Approximately 100 people became sick after eating Topps beef.
Now, Premio Foods of Hawthorne, NJ is seeking to purchase Topps Meat via a federal bankruptcy proceeding, from the current owner, Buffalo-based Strategic Investments & Holdings.
Documents filed with a federal bankruptcy court in New Jersey indicate Premio has offered $794,605 for the Topps trademarks, as well as its physical assets. The deal would include equipment and property of the Elizabeth, N.J.-based Topps, and more than 1.8 million pounds of potentially E. coli-contaminated meat. Premio will be required by federal law to destroy all of the beef product that is still sitting in Topps warehouses.
Before the bankruptcy, Topps was one the country’s largest producers of hamburger patties and other packaged meat products. Topps had annual sales of more than $90 million.
Premio’s bid for Topps will be reviewed in bankruptcy court on January 8th.