Atlantic Natural Foods (ANF), a manufacturer of shelf-stable plant-based products under brands such as Loma Linda®, neat™, and TUNO™, has announced plans to sell its assets to Century Pacific North America Enterprise, Inc., a Philippine-based food company, after the United States Bankruptcy Court for the Eastern District of Louisiana approved the bid process on June 24, 2025.
At the end of last year, the company terminated its acquisition agreement with plant-based food company Above Food, planning to switch back to private ownership, but ultimately filed for Chapter 11 bankruptcy in April of this year.
Production shift to Philippines
The company’s production operations, previously based in North Carolina, were halted in March 2025, with production moving to the Philippines. This shift was part of a restructuring effort following challenges in supply chain management and rising costs.
ANF had been transitioning its supply chain to alternative locations since early 2024, notably due to the impact of tariffs on materials such as steel, grains and spices. These cost escalations, along with inflation, labor issues, insurance hikes, and cybersecurity challenges, led to the closure of the North Carolina facility.
Hard-hitting restructuring process
Douglas Hines, Chairman and General Partner of ANF, described the period of restructuring as one of intense difficulty. “During this period, ANF experienced rapid cost escalation with material impact directly related to tariffs on steel, grains, spices and more,” he stated. Hines also cited increasing IT costs due to cybersecurity attacks as a significant factor in the company’s decision to restructure.
Despite these difficulties, ANF remains committed to ensuring the availability of plant-based products for its core customer base. The company’s relocation of production to Century Pacific was part of a long-term strategy to maintain supply continuity while adjusting to the changing business environment.
“Our mission to ensure a continuing food source for the Adventist consumer has remained our #1 priority”
“The past months have been the most painful business experience in my 50 years in the food industry; however, our mission to ensure a continuing food source for the Adventist consumer has remained our #1 priority,” Hines added. He expressed confidence that the restructuring would secure a stable future for the company under Century Pacific’s management.
Century Pacific has been designated as the stalking horse bidder in the process. Should additional qualified bids be received, an auction will take place on July 28, 2025, at 10:00 a.m. (CT).
