Hoffmann Family makes bid to buy bankrupt Illinois dairy, ice cream chain

The Hoffmann Family of Cos., a Naples-based business conglomerate and prolific buyer of businesses, has made a bid to purchase an Illinois dairy that filed for bankruptcy.

Oberweis Dairy filed for Chapter 11 bankruptcy April 13, with $4 million in debts to at least 20 creditors, court records show. The company, founded in 1927 and based in suburban Chicago, also announced plans to lay off some 127 people, according to a letter it sent to Illinois officials. 

Hoffmann executives say they are making the offer through their investment arm, Osprey Capital, and acknowledge “there may be a stalking horse bidder for Oberweis.” (A stalking horse is an entity that makes the initial offer in a bankruptcy proceeding.)