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Gordon Brothers, New Mill Capital Acquire Procter & Gamble Assets in Joint Venture

April 03, 2020, 09:25 AM
Filed Under: Joint Venture

Gordon Brothers, the global advisory, restructuring, and investment firm, announced the acquisition of the real property and machinery and equipment associated with Procter & Gamble’s Kansas City, Kansas facility.  The acquisition was completed in conjunction with joint venture partner New Mill Capital.

Procter & Gamble Manufacturing Company manufactures and distributes a variety of consumer goods including food products, soaps, and synthetic detergents.  Procter & Gamble’s Kansas City plant produces the Dawn, Gain, Ivory, and Joy brands of soaps and dish detergents.  The transaction’s parameters include leasing the property back to Procter & Gamble in order to allow the company to conduct a smooth transition to a new facility.  Once the lease term is complete, Gordon Brothers and New Mill Capital will market the equipment and the real property.

“This joint venture between Gordon Brothers and New Mill Capital will help P&G successfully complete their move to a newer, more efficient facility,” said Bob Maroney, President of Gordon Brothers’ Commercial & Industrial business. “We are glad we could provide a creative solution to accommodate P&G. Upon completion of the lease term, we look forward to marketing the production equipment and providing a tremendous real estate opportunity that is only 10 minutes from downtown Kansas City into the market.

The acquisition includes over 574,000 square feet of manufacturing and office space on 66.17 acres.  In addition to the plant’s manufacturing operations, the site includes approximately 30 acres of land that is uniquely zoned for heavy industrial development.  Kansas City is the trucking and rail epicenter of the central U.S., and this site provides immediate access to the interstate highway system and direct rail access to the BNSF, Kansas City Southern, and Union Pacific railroads.

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