The parent company of Swiss Colony acquired the assets of Wisconsin Cheeseman in an auction last week, and the transaction was approved Monday in Dane County Circuit Court.

Colony Brands, on behalf of Midwest Catalog Brands, acquired the intangible assets — such as brands and trademarks — as well as the inventory of Sun Prairie-based Wisconsin Cheeseman for $550,000, according to court documents.

Wisconsin Cheeseman’s parent company, Wisconsin Food Gift Co., went into receivership in February.

Inventory and a portion of the intangible assets of another Wisconsin Food Gift business, Mille Lacs Gourmet Foods, was acquired by Steve’s Wholesale Dairy Co. of Sun Prairie for $125,000.

The remaining assets of Wisconsin Food Gift will be auctioned by Rabin Worldwide at 10 a.m. Wednesday and Thursday at the Wisconsin Cheeseman facility at 1500 Clarmar Drive in Sun Prairie. The auction includes plant assets as well as the intangible assets of Wisconsin Food Gift Co.’s third company, Scott’s Fundraising Resource, and remaining assets of Mille Lacs.

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