New Mill Capital set to Offer Dried Foods Plant
Shelby, MI – New Mill Capital, a national food processing asset disposition firm has been engaged by Cherry Central Cooperative to sell the Oceana Foods dehydrated product plant located in Shelby, MI. The company announced in July that it would idle the plant and has recently made the decision to sell.
After operating the 150,000 square foot facility for decades including a large building expansion and capital equipment investment in 2016; production capacity at other facilities and crop conditions led Cherry Central to make the tough decision to close the facility at the end of August. The Oceana Foods plant specializes in the processing and drying of fruit grown in and around Michigan. Cherry Central CEO, Melanie LaPerriere, left the door open to re-starting the plant, but the current direction is seeking a new operator that can utilize the processing and drying capacity in place.
“The earliest Cherry Central may reopen the Oceana plant will be August 2022, and we feel that there is an opportunity to find a buyer who will continue to provide job opportunities in the Shelby, Michigan area. Though we hoped to reopen the facility in the future, we have determined the right move is to sell and allow a new operator to utilize the plant’s many capabilities” said LaPerriere.
The plant features a large amount of blending, drying and evaporative capacity along with retail and foodservice packaging lines. Much of the current equipment in place was part of the 2016 expansion and the property has a large amount of wastewater capacity.
“In 2016, they took this plant from standard fruit drying to a multi-use, state of the art operation.”, said Eric Weiler, Managing Principal at New Mill Capital. “The nice thing about this plant is that you have the ability to manufacture and package a number of different dried products in multiple food processing verticals. We’ll cast a wide net and I expect a good deal of interest.”
Parties interested in acquiring the plant should contact Eric Weiler at New Mill Capital – ericw@newmillcapital.com
ABOUT CHERRY CENTRAL
Cherry Central is a farmer-owned cooperative that believes we are stronger when we work together. Today, Cherry Central comprises hundreds of small family farms. Just as our farmers have been innovating for generations, so is Cherry Central. Cherry Central is committed to the power of good. We lead with service, focusing on creating good and nutritious food. If there’s one thing we know, it’s that good and nutritious food has a direct and powerful impact on the health of people and the planet.
ABOUT NEW MILL CAPITAL
New Mill Capital (www.newmillcapital.com) is a privately-held asset acquisition and disposition firm specializing in food processing & beverage plant turnkey sales and disposition programs. New Mill is a national leader in the purchase and sale of idle manufacturing plants, equipment packages and has also repurposed over 20,000,000 square feet of manufacturing facilities.
Media Contact:
Jessika Osantowski
Director of Marketing, New Mill Capital Holdings
616-855-2266
jessikao@newmillcapital.com