Kraft Heinz Sells Its Madison, Wis., Facility to Reich Brothers Holdings, LLC
October 18 2017 - 3:30PM
Business Wire
The Kraft Heinz Company (NASDAQ: KHC) and Reich Brothers
Holdings, LLC., announced today that they have completed an
agreement by which Reich Brothers will purchase the former Oscar
Mayer facility located at 910 Mayer Ave., on Madison’s East
Side.
Kraft Heinz closed the factory in June 2017 after an extensive
review of its North American supply chain footprint, capabilities,
and capacity utilization. Oscar Mayer hot dogs, cold cuts and
Lunchables previously produced in Madison were transitioned to
other Kraft Heinz facilities in the United States.
“We’re pleased to announce that Reich Brothers has agreed to
purchase the historic Oscar Mayer facility,” said Michael Mullen,
SVP of Corporate & Government Affairs at The Kraft Heinz
Company. “We want to thank Mayor Paul Soglin, Gov. Scott Walker and
their teams for working closely with us as they sought to redevelop
this site. Oscar Mayer is a special brand, and remains an important
and successful part of the Kraft Heinz portfolio. We will always be
grateful to Madison and the dedicated employees whose work
contributed to this brand’s wonderful history over the years.”
“This property is an integral part of Madison’s history, as well
as the history of food manufacturing in the United States,” said
Adam Reich, Co-CEO of Reich Brothers Holdings, LLC. “We understand
the importance of the facility and the impact that its closing has
had on the area. We look forward to repositioning it for future
use, taking into account the values, desires and needs of the
community. We will work closely with local officials to achieve
these goals.”
About Reich Brothers Holdings, LLC:
Reich Brothers Holdings, LLC specializes in acquiring turnkey
manufacturing plants and provides for the bulk purchase of
equipment packages and monetization through the auction sale
process. Reich also has a lending division, which provides term
loans and sale-leasebacks; and a decommissioning division. Reich
Brothers is partnered with Victory Park Capital, a privately held
registered investment advisor dedicated to alternative investing in
middle market companies across a diversified range of industries.
For more information, visit www.reichbros.com.
About Kraft Heinz:
The Kraft Heinz Company (NASDAQ: KHC) is the fifth-largest food
and beverage company in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality,
great taste and nutrition for all eating occasions whether at home,
in restaurants or on the go. The Company’s iconic brands include
Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid,
Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia,
Planters, Plasmon, Quero, Smart Ones and Velveeta. The Kraft Heinz
Company is dedicated to the sustainable health of our people, our
planet and our Company. For more information, visit
www.kraftheinzcompany.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171018006464/en/
Media Contacts:The Kraft Heinz CompanyMichael
MullenSenior Vice President of Corporate & Government
AffairsMichael.Mullen@KraftHeinzCompany.comorReich BrothersAlex
ReichDirector of Business Development &
Acquisitionsalexreich@reichbros.com
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