SB360 Capital Partners and Tiger Group have been approved by the U.S. Bankruptcy Court for the District of Delaware to market and sell the inventory and certain other assets of BFG Supply Co., a wholesale distributor serving the lawn and garden, horticulture, professional grower and controlled-environment agriculture industries. This follows the company’s recent filing for Chapter 11 bankruptcy protection, whereby the company intends to seek one or more value-maximizing transactions.
SB360 and Tiger are conducting a comprehensive marketing and sales process for certain BFG assets. The sale represents a significant opportunity for retailers, wholesalers, distributors, growers and other strategic buyers to acquire inventory across a broad range of product categories, including:
- Lawn & garden products
- Greenhouse and nursery supplies
- Pots, planters and containers
- Growing media, soil and amendments
- Fertilizers, nutrients and additives
- Irrigation and watering products
- Tools and equipment
- Crop protection products
- Décor and outdoor living
- Controlled-environment agriculture and hydroponic products
- Plants and seeds
- Other horticultural and professional growing supplies
“This is the type of complex wholesale and distribution engagement our team is built to execute,” Robert Gould, executive vice president and head of wholesale and industrial at SB360 Capital Partners, said. “BFG has an extensive inventory mix serving a broad range of customers across the lawn, garden and professional growing industries. Working alongside Tiger, we will capitalize on our collective experience to efficiently monetize these assets and optimize the value for BFG and its stakeholders.”
Working closely with Reflect Advisors, the company’s chief restructuring officer and restructuring advisor, SB360 and Tiger will leverage their respective industry relationships and extensive buyer networks to identify opportunities across multiple sales channels and maximize recoveries throughout the process.
Concurrently with the sale of its assets, the company is also seeking to identify purchasers interested in acquiring all or a part of the company on a going concern basis. SSG has been retained as the company’s investment banker to solicit interest in such transactions.
Additional information regarding available inventory, locations, sale procedures and purchasing opportunities will be made available as the project moves forward.
BFG is represented by Cole Schotz as legal counsel, Reflect Advisors as restructuring advisor and chief restructuring officer, and SSG as investment banker.
