The assets include company-owned real estate and the company’s machinery and equipment in Jacksonville, FL, and Opelika, AL, in addition to the company’s machinery and equipment at third-party facilities in Franklin, IN; Atlanta; Biddeford, ME; and Rocky Mount, NC.
The real estate is being marketed for sale or lease, and the machinery and equipment will be sold through a combination of auction and private treaty channels.
An online-only machinery and equipment auction will run from Feb. 23 through March 2 for the Jacksonville, FL, location and will feature bread production equipment, packaging and plant support. Another online-only machinery and equipment auction will run from Feb. 24 through March 3 for the Opelika, AL, location and will feature production, stainless steel processing and blending equipment as well as packaging and plant support.
“This joint venture between Gordon Brothers and New Mill Capital allows the sellers to successfully consolidate into more efficient facilities,” Bob Maroney, president of commercial and industrial at Gordon Brothers, said. “We are glad we could provide a creative solution to accommodate the sellers, and we look forward to marketing the production equipment and bringing two tremendous real estate opportunities to market”.
The joint venture has several ongoing projects, including the most recent acquisition of the real property, machinery and equipment associated with Procter & Gamble’s Kansas City, KS, facility and recent extension of the entire facility lease agreement through 2023, as well as the ongoing sale of silica mining and processing assets and plant equipment in Wisconsin.