Global Food Properties recently closed on the sale of the second of two large bakery plants in the small town of Ripon, Wisconsin. Earlier this year, Global Food Properties successfully identified a leading snacks and wafer cookie manufacturer looking for additional capacity in the Midwest. Speed-to-market was imperative to include, if possible, capturing a facility with rarely available and highly engineered Hebenstreit ovens. This unusual alignment of a single-purpose asset, with a relevant Buyer expanding in the same market, created a rare and utopian outcome for all stakeholders.

As the exclusive food facilities broker for Treehouse Foods, Global Food Properties was charged with creating an accelerated sale campaign for a 77,000 SF, fully-equipped wafer cookie plant in Ripon, Wisconsin. Known as Ripon East, the wafer plant was one of two large Wisconsin bakery plants Treehouse inherited as part of its acquisition of the ConAgra Private Brands portfolio. Treehouse strategic plans call for consolidation where excess capacity so allows, and in the case of Ripon East, an immediate exit, as Treehouse was pulling out of the private-label wafer cookie business.

Kerry Group is a leading global supplier of ingredients, flavors, and nutrition to the world’s food, beverage, and pharmaceutical sectors. Millions of people throughout the world consume food and beverage products that contain their taste and nutrition technologies or systems. With over 131 production locations and 23,000 employees, Kerry has raised revenue to over 6.1 billion euros through both organic growth and M&A activity. 

Smithfield Foods is among the world’s largest pork processors, with over 52,000 employees in North America and Europe. Annual sales in 2016 exceeded $16,000,000,000, with exports to more than 40 countries. Over 80 years old and still headquartered in the founding city of Smithfield, Virginia, Smithfield Foods has developed exponentially through both organic growth, as well as mergers and acquisitions. 

Facing the headwinds of ever-changing consumer preferences, increasingly obsolete production facilities, and the need to lower cost, Kellogg’s had the vision to optimize its global manufacturing network. Announced as Project K, a four-year efficiency and effectiveness program, the initiative required paring back the manufacturing occupancy across several continents. The principles of Global Food Properties were retained to lead the packaging, marketing, and selling of the properties.