General Mills Sells Vacant Pillsbury Factory in Indiana

November 16, 2016

2 Min Read
General Mills Sells Vacant Pillsbury Factory in Indiana
General Mills sold a former Pillsbury plant in Indiana. Image courtesy of General Mills

A former Pillsbury dough products manufacturing facility in New Albany, IN and the plant’s production equipment was sold by General Mills to an investor group for an undisclosed sum on Nov. 14, the purchasers, New Mill Capital Holdings and Tiger Group, jointly announced in a press release Tuesday.

The 34.5 acre site in New Albany will be remarketed as real estate for food or non-food manufacturing uses and the new owners plan on auctioning off the remaining equipment in 2017.

“This plant is one of the highest quality food production and distribution facilities currently available in the Midwest. Between the high capacity waste water treatment, cooler space, rail access, storage silos, and many other aminities, this is a turnkey space suitable for a variety of process and packaging operations,” principal of New Mill Capital Holdings, Gregory Schain, said in a statement. “

The building has a number of loading docks and access points, the new owners said, and the joint venture will adapt the facility for a single or multiple tenants.

“This acquisition adds to our rapidly growing joint venture, in which we purchase high quality industrial plants on a turnkey basis for the purpose of remarketing the assets,” Jeff Tanenbaum, president of Tiger Group’s commercial and industrial division in the release. “We look forward to a successful auction sale and to working with the city of New Albany and state of Indiana to put jobs and economic life back into the building.”

General Mills was represented in the sale by Jeff Counsell of Global Food Properties, who will remain working with the new owners.

Closing in mid-2016, the plant operated for over 55 years, according to a report by Louisville, KY television news station WDRB. General Mills assumed ownership of the facility in 1959. As a result of the plant’s closure, about 400 workers lost their jobs, the news station said.

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