By Paul Schwedelson – Reporter, Philadelphia Business Journal
A pair of Pennsauken warehouses sold for $22.95 million as part of a larger acquisition by an upstate New York's food products manufacturer.
Baldwin Richardson Foods announced in April that it acquired Pennsauken Packing Co., and its warehouses at 1550 and 1600 John Tipton Blvd. in Pennsauken. The price of the warehouses has now been revealed via Camden County property records. Pennsauken Packing was a subsidiary of LiDestri Food and Beverage.
The two buildings total 240,000 square feet with space for manufacturing, warehousing and office use.
Macedon, New York-based Baldwin Richardson Foods, a private labeler and custom ingredients manufacturer for the food and beverage industry, declined to share how much it cost to acquire Pennsauken Packing Co.
When the firm announced the acquisition, executives said the move would enhance Baldwin Richardson’s aseptic beverage operations. Aseptic foods and beverages don’t need to be refrigerated.
Full story: https://tinyurl.com/4mpa5ana
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