Boston, Feb. 18, 2021 (GLOBE NEWSWIRE) — Biddeford Holdings LLC, a partnership between Gordon Brothers, the global advisory, restructuring and investment firm, and New Mill Capital, has acquired the real estate and machinery and equipment of a producer and marketer of packed bakery food.
The assets include company-owned real estate and the 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, GA; 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.
“This joint venture between Gordon Brothers and New Mill Capital allows the sellers to successfully consolidate into more efficient facilities,” said Bob Maroney, President, Commercial & Industrial at Gordon Brothers. “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 a long track record of successful projects, which most recently includes the acquisition of the real property and 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.
Gordon Brothers provides both short- and long-term transition capital to clients undergoing transformation. From commodities to sophisticated processing, the firm has bought, sold, operated and valued assets for decades within the industrial economy across Australia, Brazil, Canada, Europe, Japan and the U.S.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with over 30 offices across five continents.
About New Mill Capital Holdings
New Mill Capital’s forte is providing “comprehensive asset solutions for the industrial marketplace.” Primary services include turnkey acquisitions of shuttered industrial plants, value-added equipment auctions & liquidation services as well as traditional sales transactions. NMC has acquired over 17,000,000 square feet of manufacturing facilities throughout the U.S. since 2011 and conducts auctions and/or liquidations for a variety of industries including food processing, packaging, cosmetics, metalworking, heavy construction, laboratory and textiles.