AURORA, ILL. – Milk and ice cream manufacturer Oberweis Dairy, which earlier this year filed for bankruptcy, was purchased by private equity firm Hoffmann Family of Companies, per various media reports.

Terms of the deal were not disclosed, but the Chicago Sun-Times reported the bid from Osprey Capital, the investment arm of Hoffmann Family of Companies, likely surpassed a previous one of close to $20 million from Brian Boomsma, owner of Dutch Farms.

Oberweis Dairy filed for Chapter 11 bankruptcy protection on April 12. The Chicago Tribune reported then that the family-owned company’s filing showed that it owed more than $4 million to 20 creditors.

Hoffmann Family of Companies co-chief executive officer Geoff Hoffmann told the Sun-Times that Oberweis’ facility will remain open and “receive numerous upgrades.”

Oberweis Dairy owns numerous ice cream and dairy stores around the Midwest. Its dairy products are also sold by various grocery store retailers.

The suburban Chicago-based company was established close to a century ago when its founder, Peter Oberweis, purchased and re-named Big Woods Dairy in 1929.