“Stalking Horse” bid includes $150 million replacement DIP, effective immediately, and potential $180 million exit facility financing in August
NEW YORK and MIAMI, July 8, 2026 /PRNewswire/ — Today, Atlas Grove Management announced court approval and funding of a $150 million debtor-in-possession (“DIP”) facility to the Harvest Sherwood Food Distributors’ bankruptcy estate. Atlas Grove is also the “stalking horse” for the exit funding process of Harvest, which was the largest independent wholesale food distributor in the United States before ceasing operations in April 2025 and filing for chapter 11 bankruptcy protection the following month. The exit financing plan is currently slated for a confirmation hearing in August.
As Plan Funder, Atlas Grove would seek to maximize value of more than $1 billion in antitrust litigation claims against more than 25 defendants, primarily across the chicken, pork and beef producer industries. Atlas Grove’s plan would provide the Harvest estate with the financial resources and strategic expertise necessary to maximize the value of these litigation assets.
“We believe there is significant merit and associated value in the litigation claims that are the remaining assets of the Harvest Sherwood Bankruptcy Estate,” said R Christian Wyatt, Co-Founder and Managing Partner, Atlas Grove Partners. “We are pleased that the Debtors selected our firm as replacement DIP lender and believe we are well positioned as stalking horse to ultimately be confirmed as Plan Funder later this summer, at which point we can oversee the complex process of asset recovery and litigation management for the more than $1 billion of claims currently held by the Estate.”
“Our team and partners have significant expertise in bankruptcy winddowns, and we intend to maximize recoveries for the Debtors of the Harvest Estate through the DIP facility we are providing and hopefully, the subsequent exit facility,” said David Proman, Co-Founder and Managing Partner, Atlas Grove Partners. “We believe that our experience across similar situations will be beneficial to maximizing value for the Estate.”
Mitch Hurley and Sarah Schultz of Akin advised Atlas Grove on this matter.
About Atlas Grove
Atlas Grove Partners was founded in 2021 as an opportunistic investment platform focused on complex and special situations. Operating at the intersection of finance, law and technology, we employ a process-drive approach to unlock differentiated, risk-adjusted returns. Our team of 20 brings hands-on expertise to situations where complexity creates dislocation. www.atlas.gp
SOURCE Akin, Gump, Strauss, Hauer, & Feld LLP