HyLife Foods Windom, LLC and Canwin Farms, LLC (collectively “Hylife”), headquartered in Windom, Minnesota, is a pork processing facility specializing in premium cuts for the Asian market. In 2023, after operating at significant losses since 2020 due to a combination of factors including COVID related disruptions, highly unfavorable tailwinds in the swine industry, significant foreign exchange losses on conversion from the Yen to the Dollar, and the inability to effectively pivot from the Japanese market to capture market share domestically, Hylife decided to file Chapter 11 protection and pursue a 363 sale.
Intrepid was engaged to serve as Hylife’s investment banker through its Chapter 11 sale. Intrepid ran a robust sale process resulting in a competitive auction that resulted in multiple asset sales and increased total consideration to the estate by approximately 20%.