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New Mill Capital acquires former Kraft Heinz bakery in Maryland

FBR Staff Writer Published 01 December 2016

New York based New Mill Capital has purchased a former bakery owned by food giant Kraft Heinz in Maryland in for an undisclosed price.

The 103,000ft2 baking plant is located in Federalsburg, Caroline County. It produced bread and dehydrated products in Kraft Heinz’s Stove Top Stuffing range besides other products.

As part of the transaction which closed recently, New Mill Capital has also secured important production equipment that was previously used in the plant.

New Mill Capital Holdings principal Tom Murray said: “This is a great opportunity for anyone looking for expanded bread production capacity and the ability to also produce a dehydrated bakery or crouton type of product.”

The existing baking equipment at the Federalsburg bakery is in operational condition, ready to produce bread based products, said the investment firm. Additionally, it said that other equipment like bulk powder handling, gas fired tray ovens and large batch mixing are in working condition for potential operators.

New Mill Capital principal Eric Weiler, who handles the company’s food processing and packaging disposal efforts, said that most of the acquired equipment is late model.

Weiler added: “With three complete drying lines and bulk packaging, the plant offers significant options for an operator going forward.”

The 22-acre Federalsburg baking plant is located inside a radius of 200 miles from major East Coast ports like Baltimore, Washington DC, New York, Norfolk and Philadelphia.

Besides being a turnkey bakery, the plant as per its new owner, has enough infrastructure to cater to other food and non-food applications.

New Mill Capital added that the strong labor force in the areas as well as the state’s aggressive incentive schemes made the location suitable for different uses.

Last month, Kraft Heinz announced that it was closing its Lehigh Valley factory which had produced some of its well known brands like Grey Poupon mustard, Miracle Whip, A.1. Steak Sauce for over 40 years, reported The Morning Call.