Successful Sale Process
Key Challenge
Three Twins Organic, Inc – Sheboygan, WI: ONYX was formally engaged by TWIC Liquidating Trust as the exclusive sales agent in an offering of the assets of organic ice cream manufacturer Three Twins. Prior to their closure due to the COVID-19 pandemic, Three Twins Ice Cream was sold globally; at major U.S. retailers such as Whole Foods, Safeway, Albertsons and Costco, through a variety of foodservice channels and through Asian based retailers. ONYX executed a turnkey sale of the company’s Sheboygan, WI operating plant including the real property and the in-place / operating equipment followed by a subsequent separate sale of Three Twins’ Intellectual Property (brands, trademarks, recipes, etc.).
Key Takeaway
Three Twins was a successful brand that fell victim to the COVID-19 pandemic. Onyx was able to find a buyer for the facility and IP domestically, as well as a second party that was interested in continuing the brand expansion into the Asian market.