CHICAGO – Best Chicago Meat Co. acquired the Moo & Oink brand and intellectual property at public auction for $530,000 recently.

Moo & Oink filed for Chapter 7 bankruptcy in September 2011. The four stores in the chain will remain closed, as there were no bidders on the real estate, according to Best Chicago Meat. The company name will be Moo and Oink, LLC, and it will be a sister company of Best Chicago Meat.

Robert M. Beavers, Jr., chairman and chief executive officer of Best Chicago Meat, said he plans to produce and Moo & Oink products and put them back on shelves at large food retailers as well as independent stores.

Best Chicago Meat has produced burgers and sausages for Moo & Oink for the past 30 years. Best Chicago Meat currently produces ground beef, sausage, hot dogs and Italian beef under the brands Glenmark, Jemm, Red Hot Chicago, and Scala's Original.

“We welcome this opportunity to add Moo & Oink to our quality brands,” Beavers said. “Moo & Oink has been a staple in the African American community in Chicago, and for the first time in its history, Moo & Oink is minority owned.”