New Mill Capital and Tiger Group will conduct a live webcast auction sale on February 16, for over 2,500 pieces of equipment located at the former Pillsbury dough production plant in New Albany. Separately, the two companies are also accepting purchase or lease offers for the 450,000-square-foot building and refrigerated warehouse space, which sits on approximately 34.5 acres.
The facility which made Pillsbury-branded cinnamon rolls and other dough and bakery products, was shuttered in August 2016 by General Mills. A joint venture of New Mill and Tiger purchased the site in November with most equipment in place. The auction includes late-model, well-maintained liquid processing and blending, bulk powder processing and blending, sifting, and dough mixing equipment, along with shortening systems and secondary packaging machinery. Also up for bid are electrical and ammonia equipment, parts, maintenance and plant support equipment.
“While this was a dough production facility, a large percentage of the equipment being sold translates well across the entire food processing industry.
It’s a great auction for companies in the market for equipment to purchase well-maintained machinery with no lead-time,” said Eric Weiler, Principal of New Mill Capital. “When you have an equipment sale of this size, there is something for everyone.”
Located in the metro Louisville area, the plant/warehouse offered for sale or lease features ample refrigeration capacity and is well docked. The building can be adapted for a single occupant or multiple tenants, according to Global Food Properties, which is managing the real estate offering for New Mill and Tiger.
The auction for all processing and production equipment will be conducted live onsite as well as webcast. Live bidding will take place at the facility, 707 Pillsbury Lane, New Albany, beginning at 10:00 a.m. (CT) on February 16. A subsequent online-only auction will take place on February 21 at 10:00 a.m. (CT) for the balance of the plant support equipment and spare parts. Those intending to bid online via webcast during the auction are required to register prior to the sale at www.bidspotter.com. Previews of the assets being offered in the auction will be held at the New Albany facility on February 14 and 15 from 9:00 a.m. to 4:00 p.m. (CT), or by appointment by emailing firstname.lastname@example.org.
Source: New Mill Capital and Tiger Group