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Gordon Brothers and New Mill Capital Purchase Real Estate, M&E from Packed Bakery Food Producer

February 19, 2021, 07:55 AM
Filed Under: Industry News

Biddeford Holdings LLC, a partnership between Gordon Brothers and New Mill Capital, 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.
An online-only machinery and equipment auction will run from February 23 through March 2, 2021 for the Jacksonville, FL location and will feature bread production equipment, packaging and plant support. Another online-only machinery and equipment auction will run from February 24 through March 3, 2021 for the Opelika, AL location and feature production, stainless steel processing and blending equipment as well as packaging and plant support.
“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.

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