Friday, January 4, 2019

West Chester, PA Frozen Food Plant Sold to JV

by Steve Lubetkin, Globest.com
A joint venture of Concord, ON-based Infinity Asset Solutions and New Mill Capital Holdings of New York has acquired the former Hain Celestial frozen food production plant in West Chester, PA. The acquisition includes the real estate as well as all cold storage equipment and infrastructure.

Designed, built and occupied exclusively for frozen food production, the 134,010 square foot facility provides immediate capacity for refrigerated or frozen food manufacturing. The plant offers significant infrastructure including an ammonia refrigeration system with nine compressors, 11,900 square feet of -20 degrees Fahrenheit-capable frozen storage, nearly 58,000 square feet of refrigerated production space and bulk dry ingredient storage with three silos.
“This acquisition is in line with our strategy of identifying underutilized, high quality food processing facilities that can be retrofitted for modern users,” says Leslie Amoils, president of Infinity Asset Solutions. “The West Chester plant represents a compelling opportunity to restart food production and storage in a strategically located area. Potential users will be attracted to the area’s strong labor force and easy access to highways and rail systems in a property that can be acquired significantly below replacement cost.”

The JV partners and its affiliates have acquired and repurposed numerous food and beverage production plants throughout the US and Canada including assets on behalf of General Mills, Kraft Heinz, Unilever, Sunny Delight, Flowers Foods, Aryzta, Bob Evans, Sara Lee, Smithfield Foods, and many others.
“Our venture specializes in identifying excess corporate real estate and equipment assets and providing streamlined solutions to bring those assets back to life,” says Tom Murray, principal of New Mill Capital Holdings. “As we begin making improvements and marketing the property, I am confident that prospective tenants will see the value and functionality of this plant and location.”
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