GREEN BAY – A Georgia cheese manufacturer and processor is the new owner of Titletown Cheese Trading Co. 

International Gourmet Products Inc., based in Cumming, Georgia, bid $2.5 million for Titletown Cheese and three related companies’ inventory, a Cedar Street warehouse, equipment and other related assets. 

Brown County Circuit Court Judge Tammy Jo Hock on Monday approved IGP’s bid as highest and best offer to emerge from the March 13 auction, held at the Hyatt Regency in downtown Green Bay. 

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Eric Teska of Silver Creek, Wis., left, and Denise Poole of Adell, work on inspecting and preparing loaves of mozzarella cheese for vacuum packing at Fairplay in Plymouth, Thursday January 18, 2018 in Plymouth, Wis. Fairplay Plymouth, a division of Titletown Cheese Trading Company. (Photo: Gary C. Klein/USA TODAY NETWORK-Wisconsin)

International Gourmet Products was founded in 1972. The family-owned company makes and processes cheese for retail and food-service uses. Its signature cheese brand is El Preferido.

IGP also operates a brokerage division with specialties in proteins, pastries, dairy and dry goods. 

The two lines of business make IGP and Titletown Cheese a good fit, as each built its business as a broker between producers and sellers. 

RELATED: Cheese, Green Bay warehouse to be sold to pay off Titletown Cheese debts

Titletown Cheese, M&M Warehousing and three other affiliates filed for receivership Jan. 14 in Brown County Circuit Court, just six days after one of its suppliers, Mosinee-based Mullins Cheese, obtained a judgement against Titletown for almost $600,000. 

The companies listed assets of $10.5 million and liabilities of $13.1 million, including a $3.1 million loan from Fortifi Bank. Receiver Seth Dizard was appointed to oversee the companies’ effort to reorganize, manage their finances through the sale and help emerge as a viable business. 

Proceeds from the sale will be paid to Fortifi Bank to satisfy its lien against the companies assets. Court documents indicate that no members of Titletown Cheese Trading Co. will be affiliated with International Gourmet Products. 

Contact Jeff Bollier at 920-431-8387 or [email protected]. Follow him on Twitter at @GBstreetwise. 

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